Eight more Port terminals Worldwide come under the CMPort Umbrella
CMA CGM completed the sale of eight port terminals to Terminal Link, adding substantially to its existing capacity. The French shipping group announced that they had closed the first part of its agreement with China Merchants Port Holdings, with this sale for US$815m. China Merchants Port Holdings is the major stakeholder of Colombo International Container Terminals (Pvt) Ltd, and Hambantota International Port Group (Pvt) Ltd, in a public private partnership with the Sri Lanka Ports Authority.
This initial disposal includes the following terminals: Odessa Terminal (Ukraine), CMA CGM PSA Lion Terminal (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) and Umm Qasr Terminal (Iraq).
With this acquisition, Terminal Link, a joint venture, established in 2013 which is 51% owned by CMA CGM and 49% by CMPort, will immensely expand its geographic footprint and CMPort will enter a mix of regions covering Asia, Europe, Middle-East and the Caribbean. The Chinese port group has been actively exploring and acting on acquisition opportunities overseas as a means to adding growth drivers to its business.
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$150m, pending regulatory approval, a media release from CMA CGM said.
Previously Terminal Link owned various levels of equity interests in 13 Terminals located in eight countries across four major continents: France, Morocco, Malta, the United States, the Republic of Cote d’Ivoire, Belgium, Greece and South Korea.
The acquisition is a mutually beneficial partnership between CMPort and CMA CGM in operating and developing container terminals on a global basis. CMA CGM, with its affiliates, agrees to make its best endeavors to cooperate and support the other terminals of CMPort.
CMPort was listed on the Hong Kong Stock Exchange in 1992 as the first mainland red chip enterprise to be listed in Hong Kong. CMPort is the World’s leading port developer, investor and operator, with a comprehensive ports network portfolio spanning six continents and 18 countries and regions.