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China Merchants Port jv completes acquisition of eight terminals

China Merchants Port Holdings announced that the company has completed the initial closing of the proposed acquisition with respect to eight target terminals worth $814.78m.

The eight terminals assets include 50% of Odessa Terminal Holdco Ltd (Ukraine), 49% of CMA CGM-PSA Lion Terminal Pte Ltd (Singapore), 100% of Kingston Freeport Terminal Limited (Jamaica), 30% of Rotterdam World Gateway (the Netherlands), 24% of Qingdao Qianwan United Advance Container Terminal Co., Ltd (the PRC), 47.25% of First Logistics Development Company (Vietnam), 14.5% of Laem Chabang International Terminal Co Ltd (Thailand) and 100% of CMA CGM Terminals Iraq S.A.S.

Upon completion of this initial closing, Terminal Link SAS, the jv of China Merchants Port and CMA CGM, will own various levels of equity interests in a portfolio of 21 terminals. Meanwhile, China Merchants Port’s global network will be expanded from 18 countries & regions to 25 countries & regions.

The two parties will continue the working towards the transfer of equity interests in the two remaining target terminals.

In December 2019, China Merchants Port and Terminal Link SAS signed the formal deal for acquisition of ten terminal assets.

 

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