CMA CGM brings China Merchants into more African ports
To reduce its debt, CMA CGM is to sell its shareholdings in 10 container terminals held through its wholly owned subsidiary CMA Terminals. The buyer is Terminal Link, a company jointly owned since 2013 by Chinese state-run enterprise China Merchants Ports (49%) and CMA CGM (51%).
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▪ CMA CGM brings China Merchants into more African ports
▪ To reduce its debt, CMA CGM is to sell its shareholdings in 10 container terminals held through its wholly owned subsidiary CMA Terminals. The buyer is Terminal Link, a company jointly owned since 2013 by Chinese state-run enterprise China Merchants Ports (49%) and CMA CGM (51%).
▪ https://www.africabusinessplus.com/en/800869/cma-cgm-fait-rentrer-china-merchants-dans-dautres-ports-africains/
China Merchants Ports will commit $968m to widen its portfolio and take over these 10 additional terminals. And to finance this acquisition without changing its capital structure, Terminal Link will increase its share by $468m, funded solely by China Merchants Ports, and receive a loan, also from China Merchants Ports. This loan will be converted after eight years into a capital increase subscribed by CMA CGM.
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