CMA CGM forges $968m deal to sell raft of terminals

CMA CGM has signed a binding agreement with China Merchants Port (CMP) to sell a portfolio of ten container terminals.

The French liner operator will sell the facilities to Terminal Link, a joint venture set up in 2013 that is owned 51% by CMA CGM and 49% by CMP.

The $968m transaction signed this weekend forms part of the French group’s efforts to reduce its massive debt burden.