The two parities have reached agreement on all the main terms and conditions of the proposed transaction and will work together to finalise the formal agreement shortly.
Upon completion of the proposed deal between Terminal Link and CMA CGM, Terminal Link will own equity interests in a portfolio of 23 terminals serving various regions such as Asia, Europe, Middle-East and the Caribbean, each of which has a strong growth potential, said China Merchants Port.
The company expects that its existing network of terminal operations in China and globally will potentially complement and supplement the services offered by CMA CGM and Terminal Link.
China Merchants Port, mainly operates business of investment and operation of port and port-related business. The company has been actively on exploring acquisition opportunities overseas in recent years to achieve business growth.
Terminal Link focuses on marine terminal services. It is 49% owned by China Merchants Port through its indirectly wholly-owned subsidiary, China Merchants (Luxembourg), and 51% owned by CMA CGM through its wholly-owned subsidiary CMA Terminals Holdings SAS.