China Merchants Holdings acquire 49% stake in French shipper’s container terminal business for €400 million
China Merchants Holdings International (CMHI) has completed the purchase of its 49 percent equity stake in CMA CGM’s container terminal business Terminal Link for €400 million.
The transaction, subject to regulatory approval, was formalised by the signing by both parties of a Shareholders Agreement.
“The smooth completion of this transaction reflects the recognition and consent to the transaction from the governments from whose regulatory unit’s consents and approvals were obtained,” said China Merchants Group assistant president & CMHI managing director, Dr. Hu Jianhua.
“The process to seek approvals and consents has also helped to anchor Terminal Link’s platform through which to further develop its ports businesses in these areas.”
Terminal Link operates 15 terminals worldwide, including Belgium’s Antwerp Gateway, the Busan New Container Terminal and Malta Freeport Terminal, and is the world's twelfth largest terminal operator handling 8.1 million TEU annually.
CMHI’s intention to acquire a stake in Marseille-based CMA CGM’s terminal operating arm was announced in January this year.
“CMA CGM is very pleased to enter a new strategic partnership with CMHI which will allow us to join our complementary forces to operate and further develop in Terminals investments,” added Farid Salem, CMA CGM’s executive officer.