Chinese port operator buys 49 of CMA CGM´s terminal link for 400 million

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Chinese port operator buys 49 of CMA CGM´s terminal link for 400 million

China Merchants Holdings (International) Company Limited (CMHI) announced on May 11 the completion of the acquisition of the 49% equity stake in CMA CGM's Terminal Link, upon the obtaining of all consents and approvals in various jurisdictions and the completion of certain pre-closing corporate reorganizations as stipulated under the terms of the Acquisition Agreement.

CMHI's intention to acquire CMA CGM's 49% equity interest in Terminal Link for €400 million was announced earlier in January.

CMHI is listed on the Stock Exchange of Hong Kong. It is one of the largest public port operators of, and investors in, port facilities in China with a market share of over 32% of China¡¯s container throughput. CMHI's port network is strategically located in gateway hubs in Asia and Africa and CMHI's ports handled over 60 million TEUs of containers in 2012. CMHI has a current market capitalization of more than HK$60 billion. As of 31 December 2011, its total assets exceeded HK$87 billion.

Port terminal in Belgium

CMA CGM, founded and led by Jacques R. Saad, is the world's third largest container shipping company and has a turnover of 15.9 billion USD in 2012.Operating a fleet of 414 vessels, the Group serves more than 400 ports around the world.

Terminal Link owns 15 container terminals in 8 countries across four major continents:
  • Container Handling Zeebrugge at Zeebrugge (Belgium); 
  • Antwerp Gateway at Antwerp (Belgium); 
  • Terminal des Flandres at Dunkirk (France) ;
  • Terminal de France and Terminal Nord at Le Havre (France);
  • Terminal du Grand Ouest at Montoir (France) ;
  • Eurofos at Fos (France) ;
  • Somaport at Casablanca (Morocco); 
  • Eurogate Tanger at Tangiers (Morocco) ;
  • Malta Freeport Terminal at Marsaxlokk (Malta); 
  • Terra Abidjan at Abidjan (Ivory Coast); 
  • Houston Terminal Link Texas at Houston (the United States) ;
  • South Florida Container Terminal at Miami (the United States) ;
  • Busan New Container Terminal at Busan (South Korea) ;
  • Haicang Xinhaida Container Terminal at Xiamen (the PRC).

Farid Salem, CMA CGM's Executive Officer, said:

"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."

China Merchants Group & CMHI Chairman Dr Fu Yuning added,

"the linkage through Terminal Link between CMA CGM and CMHI not only marks a deeper and closer co-operation from here on, but also rolls out a joint and co-ordinated approach to developing the ports business with mutual interests that capitalises on the respective advantages and global network synergy of both parties, with a view to better facilitating international trade activities at the terminal locations through the provision by Terminal Link of more efficient and comprehensive services, whilst creating higher return on investment for our respective shareholders. "

Source: CMHI

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