Finance
MSC, BlackRock bid for Hutchison's Barcelona terminal faces EU probe, source says
Published by Global Banking and Finance Review
Posted on November 27, 2025
3 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 27, 2025
3 min readLast updated: January 20, 2026
The EU will investigate BlackRock and MSC's bid for the Barcelona terminal, a deal separate from their global port assets acquisition from CK Hutchison.
(Corrects first three paragraphs to clarify that the Barcelona terminal deal is separate from the wider bid by BlackRock and MSC for CK Hutchison's global port assets. Clarifies in paragraphs 6-8 that the larger bid is a separate deal.)
By Foo Yun Chee
BRUSSELS (Reuters) -BlackRock and MSC's bid for CK Hutchison's terminal at Barcelona port faces a hurdle with EU antitrust regulators set to investigate the Spanish deal, a person with direct knowledge of the matter said on Thursday.
The deal is separate from and predates BlackRock and MSC's bid for most of CK Hutchison's global port operations, Swiss-based MSC said.
Hong Kong tycoon Li Ka-shing's CK Hutchison separately wants to sell its 80% holding in the $22.8 billion ports business, which encompasses 43 ports in 23 countries, a politically sensitive deal that has been caught up in China-U.S. tensions.
The likely full-scale investigation by the European Commission, previously unreported, could see regulators demand concessions from BlackRock and MSC in return for clearing the Spanish deal.
The Commission declined to comment. BlackRock did not respond to several emailed requests for comment.
CK Hutchison has interests in ports across Europe, including in Belgium, Poland and the Netherlands. It was not immediately clear if those other European parts of the global acquisition could also eventually come under scrutiny. The non-EU portions of the wider deal fall outside the EU's review jurisdiction.
BARCELONA TERMINAL ACQUISITION UNDER EU SCRUTINY
The overall wider package, which includes two ports along the strategically important Panama Canal, has become highly politicised between Washington and Beijing.
The Spanish deal would see Terminal Investment Limited Holding (TiL), a unit of Switzerland-based MSC Mediterranean Shipping Company, and BlackRock acquire joint control of Hutchison's terminal at Barcelona port.
The terminal can serve multiple mega-ships simultaneously and has an eight-track rail facility - making it the EU's largest rail terminal on the Mediterranean Sea - that connects the port with traffic to and from Southern Europe.
TiL already operates a terminal at the Spanish port of Valencia.
The European Commission, which acts as the EU competition enforcer, is set to open a full-scale investigation after its preliminary review of the deal ends on December 10, the person said.
Full-scale EU investigations typically last around four months or longer and can lead to firms offering concessions including divestments to address competition concerns and secure regulatory approval.
(Reporting by Foo Yun Chee; Editing by Adam Jourdan and Joe Bavier)
The European Commission is the executive branch of the European Union responsible for proposing legislation, implementing decisions, and managing the EU's day-to-day operations.
Antitrust regulations are laws designed to promote competition and prevent monopolies in the market, ensuring fair pricing and consumer choice.
An investment is an asset or item acquired with the goal of generating income or appreciation. It can include stocks, bonds, real estate, and other financial instruments.
A bid in finance is an offer made by an investor to purchase a security or asset at a specified price, indicating the maximum price they are willing to pay.
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