China Merchants Group, a massive Chinese state-owned conglomerate, is in talks to invest in CMA CGM’s port assets, according to Bloomberg.
The group is reportedly considering spending several hundred million US dollars on the potential transaction with the aim to diversify geographically and boost capacity.
PTI Insight: Is the Arctic Route the Future of Shipping?
According to Bloomberg, the divestment could help CMA CGM reduce debt after its $1.7 billion acquisition of Switzerland’s Ceva Logistics AG, a story Port Technology reported extensively.
The Terminal Link business currently operates about 13 container terminals across the word. CMA CGM also owns CMA Terminals, which operates 32 terminals globally.
China Merchants Port operates ports across China, Hong Kong and Taiwan. It also has a presence in Africa, South Asia,, the Mediterranean and South America. It operates about 36 ports in 18 countries and regions.