CMA CGM Group has sold its stakes in eight port terminals from around the world to Terminal Link, in an $815 million all-cash deal. Terminal Link is a joint venture that is 51 percent owned by CMA CGM and 49 percent by China Merchants Port (CMP).
The transaction will enable Terminal Link to expand its geographic footprint and global network.
The assets involved in the deal include the Odessa Terminal located in the Ukraine; CMA CGM PSA Lion Terminal in Singapore; Kingston Freeport Terminal in Jamaica; Rotterdam World Gateway in the Netherlands; Qingdao Qianwan United Advance Container Terminal in China; Vietnam International Container Terminal in Ho Chi Minh City, Vietnam; Laem Chabang International Terminal in Thailand; and Umm Qasr Terminal in Iraq.
The sale of the terminals in Thailand and Iraq are expected to be completed by the first half of 2020 for a cash consideration of $150 million.
The transaction is part of CMA CGM’s $2.1 billion liquidity p
