CMA CGM sells assets to complete CEVA takeover

CMA CGM sells assets to complete CEVA takeover

French liner giant CMA CGM is having a ports sell-off in order to complete its takeover of CEVA Logistics. The Marseille-headquartered liner revealed yesterday plans to sell stakes in 10 port assets to its Terminal Link joint venture partner, China Merchants Port Holdings, to help raise $2bn to fund its CEVA acquisition.

CMA CGM also plans to raise $860m from the sale and leaseback of some ships, $93m from selling a logistics platform in India and another $100m from a securitisation programme relating to customer receivables at CEVA.

 

 

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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