The CMA CGM Group, a globe leader in delivery and also logistics, reveals the initial closing of its contract with China Merchants Port (CMP), with the sale of its risks in eight-port terminals toTerminal Link Terminal Link joint endeavor was produced in 2013 and also is 51% had by CMA CGM and also 49% by CMP.
In line with the terms of the contract revealed on 20th December 2019 this initial deal stands for an overall all-cash factor to consider of USD 815 million. It will certainly make it possible for Terminal Link to increase its geographical impact and also worldwide network, consequently improving its organization growth leads.
This first disposal consists of the adhering to terminals:
- Odessa Terminal (Ukraine)
- CMA CGM PSA Lion Terminal (CPLT), Singapore
- Kingston Freeport Terminal (Jamaica)
- Rotterdam World Gateway (Netherlands)
- Qingdao Qianwan United Advance Container Terminal (China)
- Vietnam International Container Terminal, Ho Chi Minh City (Vietnam)
- Laem Chabang International Terminal (Thailand)
- Umm Qasr Terminal (Iraq)
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The sale of the last 2 terminals covered by the contract in between CMA CGM and also CMP ought to be finished by the end of first-half 2020 for an all-cash factor to consider over USD 150 million, pending authorization by the experienced regulative companies.
The CMA CGM Group minimizes its financial obligation and also is waging its liquidity strategy
With this deal, CMA CGM is waging the distribution of its USD 2.1 billion liquidity strategy revealed on 25 th November 2019. This strategy to name a few minimizes CMA CGM combined financial obligation by greater than USD 1.3 billion by the end of first-half 2020 and also permits to expand particular funding centers growing throughout the year.
The Group reinforces its annual report in the middle of the worldwide health and wellness situation
The CMA CGM Group reinforces its annual report among the high unpredictability produced by the worldwide Covid -19 health and wellness situation. While the situation has actually had a restricted influence in the initial quarter of 2020, the Group anticipates a decrease in quantities, specifically outgoing to Europe and also the United States.
On this celebration, Rodolphe Saad é, Chairman and also Chief Executive Officer of the CMA CGM Group, states:
“This transaction, announced on the 20th of December 2019, is an important step in its 2.1 billion USD liquidity plan and will allow us to strengthen our balance sheet. Amid the high uncertainty created by the COVID-19 health crisis, the closing of this transaction as previously announced demonstrates the resilience of the CMA CGM Group.”
Reference: cma-cgm. com
