Hong Kong's CK Hutchison announced on Monday that the closely monitored port deal it has negotiated will adhere strictly to all compliance standards.

The company stated that "This transaction will never be conducted under illegal or non-compliant conditions."

In March, the Hong Kong-based conglomerate controlled by tycoon Li Kashing agreed to sell the bulk of its global ports business worth $22.8 billion, including assets located along the strategically important Panama Canal to a consortium headed by BlackRock.

The deal has drawn worldwide criticism including from U.S. president Donald Trump who expressed repeatedly his desire to "reclaim" the Panama Canal. He called the deal a reclaiming of the waterway.

Chinese state media has also condemned the sale proposal, saying it is a betrayal of China's interests.

Earlier in March a pro Beijing Hong Kong newspaper amplify the criticism, publishing comments by local politicians and Chinese attorneys who urged CK Hutchison reconsider the deal and to support the decision of Chinese regulators review the transaction.

CK Hutchison announced it will also provide more details regarding the ports deal during its annual shareholders meeting on May 22, 2019.

(source: Reuters)