The CMA CGM Group announced the first closing of its agreement with China Merchants Port (CMP), with the sale of its stakes in eight-port terminals to Terminal Link. Terminal Link, joint venture was created in 2013 and is 51% owned by CMA CGM and 49% by CMP.

In line with the terms and conditions of the agreement announced on December 20, 2019 this first transaction represents a total all-cash consideration of US$ 815 million. It will enable Terminal Link to expand its geographic footprint and global network, thereby enhancing its business development prospects.

This initial disposal includes the following terminals:

• Odessa Terminal (Ukraine)
• CMA CGM PSA Lion Terminal (CPLT), Singapore
• Kingston Freeport Terminal (Jamaica)
• Rotterdam World Gateway (Netherlands)
• 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 of the last two terminals covered by the agreement between CMA CGM and CMP should be completed by the end of first-half 2020 for an all-cash consideration over US$ 150 million, pending approval by the competent regulatory agencies.