Hong Kong: Riding to the rescue of financially strapped French line CMA CGM comes China Merchants Holdings (International). China Merchants today announced it will pay the Marseille container line $537m to take a 49% stake in its ports division, Terminal Link.
Terminal Link has a global network of 15 terminals around the world making it the 12th largest terminal operator worldwide based on throughput handled with a volume of 8.1m teu handled in 2011.
CMA CGM chairman and chief xecutive officer, Mr. Jacques R. Saadé commented, "CMA CGM is very confident about this partnership with CMHI, which represents a unique opportunity to accelerate the goup development into terminals investments internationally.”
CMHI chairman Dr Fu Yuning (pictured) said the transaction was consistent with his company’s plans to expand its international footprint.
“Terminal Link's exposure to terminals in emerging markets and its potential pipeline of new projects present another driver for its volume growth and financial returns in the future,” Fu noted. [25/01/13]
