CMA CGM Seals Deal to Sell Stakes in 10 Port Terminals to Terminal Link

CMA CGMImage by NAVINGO

French shipping and logistics major CMA CGM Group has signed an agreement with China Merchants Port (CMP) to sell a portfolio of stakes in ten port terminals to their joint venture Terminal Link.

CMA CGM plans to cash in USD 968 million from the transaction, which is expected to close in spring 2020, pending approval by antitrust authorities and the relevant regulatory bodies.

“The transaction will enable Terminal Link, a joint-venture set up in 2013 and owned 51% by CMA CGM and 49% by CMP, to broaden its geographic footprint and reinforce its growth potential by giving it equity stakes in ten additional terminals,” the French giant said.

The terminals in question are:

  • Odessa Terminal (Ukraine)
  • CMA CGM PSA Lion Terminal (CPLT) (Singapore)
  • Mundra Terminal (India)
  • Kingston Freeport Terminal (Jamaica)
  • Rotterdam World Gateway (Netherlands)
  • Gemalink (Cai Mep, Vietnam)
  • Qingdao Qianwan United Advance Container Terminal (China)
  • Vietnam International Container Terminal (Ho Chi Minh City, Vietnam)
  • Laem Chabang International Terminal (Thailand)
  • Umm Qasr Terminal (Iraq)

The sale is part of the group’s plan announced in November, whereby CMA CGM plans to cut its debt and raise more than USD 2 billion by mid-2020 in additional cash through the sale of vessels and terminal stakes while extending its debt maturities and reducing its debt by more than USD 1.3 billion.

 

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >

MARITIME INDUSTRY 2020

The future of the maritime sector is the point of focus during Maritime Industry 2020.

read more >