The European Commission informed that it has approved the acquisition of CMA CGM Port Terminals, based in France, and Terminal Link Holding, based in Singapore, by CMA CGM and China Merchants Port Holdings Company (CMPorts).
The acquisition regards 10 terminals, in a total of $955 million deal. The terminals are based in Asia, Europe, the Middle-East and the Caribbean.
CMA CGM and CMPorts had announced the deal last December.
Once the acquisition is completed, Terminal Link, controlled by CMA CGM and CMPorts, will own various levels of equity interests in 23 terminals.
According to the European Commission, the acquisitions will not lead to competition concerns.
