CMA CGM to sell terminals and ships worth US$2bn to fund Ceva acquisition

CMA CGM is aiming to raise US$2bn from the sale of terminals and vessels to support its acquisition of Ceva Logistics.

Nearly half the funds – US$955m – will be raised by selling a portfolio of ten terminals located in Asia, Europe, the Middle East and the Caribbean to Terminal Link, its own joint venture with China Merchants Port Holdings (CM Port).

The Chinese operator noted in a statement: “CM Port has been actively exploring and acting on acquisition opportunities overseas as a pertinent mean to effectively add new growth drivers to its existing and sustainably growing ports business.