CMPort and CMA CGM Successfully Complete the Initial Closing of 8 terminals to expand CMPort’s global network to 25 Countries and Regions

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Number:756

Release time:2020-03-26

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CMPort and CMA CGM Successfully Complete the Initial Closing of 8 terminals

 to expand CMPort’s global network to 25 Countries and Regions


    China Merchants Port Holdings Company Limited (“CMPort” or “The Company”, HKSE Code: 00144) is pleased to announce that, with reference to the agreements signed by CMPort and Terminal Link SAS on 20 December 2019, CMPort successfully completed the Initial Closing of the Proposed Acquisition on 26 March 2020 with respect to the eight Target Terminals, being 50% of Odessa Terminal Holdco Ltd (Ukraine), 49% of CMA CGM-PSA Lion Terminal Pte. Ltd. (Singapore), 100% of Kingston Freeport Terminal Limited (Jamaica), 30% of Rotterdam World Gateway (the Netherlands), 24% of Qingdao Qianwan United Advance Container Terminal Co., Ltd (the PRC), 47.25% of First Logistics Development Company (Vietnam), 14.5% of Laem Chabang International Terminal Co Ltd (Thailand) and 100% of CMA CGM Terminals Iraq S.A.S, holding the lease and all assets and liabilities of Umm Qasr terminal (Iraq), and the subscription of the corresponding amount of the Mandatory Convertible Bonds and the advancement of the corresponding amount of the Loan took place on the same date. The aggregate amount paid for the subscription of the Mandatory Convertible Bond, and the principal amount of the Loan advanced at Initial Closing was approximately USD$814.78 million.

    Upon completion of this Initial Closing, Terminal Link SAS will own various levels of equity interests in a portfolio of 21 terminals serving various regions such as Asia, Europe, Middle-East and the Caribbean. Simultaneously, CMPort’s global network also expanded from 18 countries & regions to 25 countries & regions.

    The Initial Closing is another cornerstone of a mutually beneficial strategic partnership between CMPort and CMA CGM SA in operating and developing container terminals on a global basis and further extending their business partnership. With the vision of “to be a World’s Leading Comprehensive Port Service Provider”, CMPort 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. With this Initial Closing, CMPort will be able to enhance its global portfolio covering Asia, Europe, Middle-East and the Caribbean, each of which with their respective strengths and growth potentials.

    The parties continue working towards the transfer of equity interests in the two remaining Target Terminals and a further announcement will be made when the Second Closing takes place.

 

    Please refer to the announcement of the Company for further details.