PANAMA CITY, March 4 (Reuters) - Panama's government

said it will ensure all local regulations and laws are complied

with as part of a deal by an investor group backed by BlackRock ( BLK )

to buy a majority stake in the Hong-Kong based

subsidiary that operates two ports in the Central American

country.

An audit of the 25-year concession granted to CK Hutchison ( CKHUF )

for the operation of the ports of Balboa and Cristobal

near the Panama Canal has not been completed, but its results

will be key regarding a relationship with new concessionaires,

the government added in a release.