French container shipping and logistics company CMA CGM has completed a first transaction related to the sale of eight port terminals to Terminal Link, a joint venture between CMA CGM and port developer and operator China Merchants Port Holdings (CMP).

As informed, this first transaction represents a total all-cash consideration of USD 815 million.

It comes only a few days after the duo received an EU approval for the transfer of stakes in a total of ten port terminals to Terminal Link joint venture, which is 51 percent owned by CMA CGM and 49 percent by CMP.

More to follow…

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