New Delhi, Feb. 27 -- Panamanian authorities conducted a search of an office unit of Hong Kong conglomerate CK Hutchison in Panama on Thursday, according to a source familiar with the operation.

The raid on CK Hutchison's Panama Ports Company (PPC) did not relate to a government decision to annul deals that gave the company control of two strategic port canals in Panama, this person said.

The person declined to be identified because the information had not yet been made public.

CK Hutchison did not immediately respond to a request for comment.

"This is an independent investigation carried out exclusively by the Public Ministry of Panama in the exercise of its legal powers," the Panamanian government said in a statement without naming ...