A Hong Kong-based conglomerate has agreed to sell its controlling stake in a subsidiary that operates ports near the Panama Canal to a consortium including BlackRock Inc., effectively putting the port

An investor group backed by BlackRock agreed to buy a majority stake in the Hong Kong-based company that runs ports along either side of the Panama Canal, giving a U.S. firm control of key docks amid pressure from the White House to take them from China.

BlackRock has agreed to buy two major ports at the Panama Canal from their Hong Kong-based owner, following pressure from Donald Trump over alleged Chinese influence at the vital waterway. In apparent reference to the ports,