CMA CGM to acquire 48% stake in Santos Brasil
NewsCMA CGM has signed an agreement to acquire a 48% stake in Santos Brasil, a multi-terminal operator managing key assets across Brazil’s ports.
CMA CGM signs deals with China
Marseilles-based CMA CGM recently signed two deals with Chinese entities that could radically shape the future direction of the world’s third largest liner shipping company. The agreements cement what have become growing ties between CMA CGM and the Chinese when it comes to building, financing and chartering ships, buying new containers and developing container terminals.
The latest deals follow an official visit to CMA CGM’s headquarters by China’s Prime Minister, Li Keqiang, various senior ministers from the country and representatives from China Merchants Holdings International (CMHI) and the Export-Import Bank of China (CEXIM).
The agreements comprise a US$1B financing arrangement, which includes a mix of loans and export credit insurance instruments that can be used for the purchase of ships and/or containers; and a partnership with CMHI to help deliver aspects of the Chinese government’s highly strategic “One Belt, One Road” Silk Road project. In particular, CMA CGM and CMHI will jointly investigate and evaluate opportunities concerning the maritime dimension of the Silk Road project. The deals were signed by Jacques Saadé, founder, chairman and CEO of the CMA CGM Group, Rodolphe Saadé, vice chairman of CMA CGM, Mr Liu, vice chairman of CEXIM and Doctor Hu, executive vice president of CMHI.
“July 1st will be a milestone in our group’s history. The Chinese Prime Minister’s visit is a great recognition of the unique links our group has developed with China, a strategic country in this group’s development and history,” said Saadé. “These two agreements reinforce our links and offer new perspectives. They are in line with our development and growth plan for China.”
CMA CGM is the first foreign-based company to sign an agreement with a Chinese entity for the Silk Road initiative.
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This complete item is approximately 300 words in length, and appeared in the July 2015 issue of WorldCargo News, on page 14. To access this issue download the PDF here.
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