The Panamanian Comptroller General's office will file charges against officials who allowed the renewal of a 25-year port concession to CK Hutchison's (HKG:0001) port business, Reuters reported Monday.

The controversy came about after the Panamanian government led an audit of the concession in January, the report said.

Comptroller General Anel Flores said in a news conference that Panamanian authorities "left $1.3 billion on the table," referring to government tax incentives and benefits granted to the port operators, the report said.

The Panamanian Attorney-General's Office said the port contract was unconstitutional. The Central American country's Supreme Court will have the final word on the matter, according to Reuters.

Once the audit is finished, the results will be submitted to Panama's Maritime Authority, the report said, citing Flores.

The audit could be a hurdle to the transaction between CK Hutchison and a Blackrock-led consortium, Reuters said, citing experts.

CK Hutchinson holds 90% of the Panama Ports Company, which operates the Balboa and Cristobal ports near the Panama Canal. The deal was renewed in 2021, the report said.

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