CHINA Merchants Holdings International (CMHI), a Hong Kong-listed China's conglomerate specialising in port operations, transport and logistics, will be one of a handful Asian buyers for the Marseille-based CMA CGM's Terminal Link shares.
The carrier has been keen to sell assets to raise funds for the repayment of its heavy debt of US$5 billion, reports London's Containerisation International, adding that one of latest plans is to sell up to 49 per cent of its Terminal Link stake, which holds minority stakes in 20 terminals worldwide.
China Merchants did not comment on the deal, but its managing director Hu Jianhua told CI earlier that the company aims to "become a leading world public port developer, investor and operator" so it seeks opportunities worldwide to build up a global port network that can compete with APM Terminals, DP World and Hutchison Port Holdings.
The Hong Kong-based so-called "red chip" company pays close attention to the emerging markets. "Emerging markets have the potential to increase and they have a big advantage due to potential of market growth, as well as low cost labour," Mr Hu said.