CMA CGM completes sale of eight port terminals to Terminal Link for US$815m

CMA CGM Group has closed the first part of its agreement with China Merchants Port (CMP), with the sale of its stakes in eight port terminals to Terminal Link for US$815m in cash.

The transaction, which is part of the French company’s US$2.1bn liquidity plan, is meant to help it reduce its debt and immediately increase its liquidity.

This plan among others aims to reduce CMA CGM’s consolidated debt by more than US$1.3bn by the end of first-half 2020 and allows to extend certain financing facilities maturing during the year.