The CMA CGM Group has announced that it has signed an agreement with China Merchants Port (CMP) to sell a portfolio of stakes in ten port terminals to Terminal Link, their joint-venture set up in 2013 and owned 51% by CMA CGM and 49% by CMP. The agreement confirms the terms of the transaction announced on November 25, 2019, particularly the consideration of US$ 968 million, payable in cash at closing.
The transaction will enable Terminal Link to broaden its geographic footprint and reinforce its growth potential by giving it equity stakes in ten additional terminals:
- 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 transaction is expected to close in Spring 2020, pending approval by antitrust authorities and the relevant regulatory bodies.
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