Terminal Takeover in Sight: CMA CGM Eyes Hutchison Assets After Deal Falters
- Sarah-Jayne Gratton
- 1 day ago
- 2 min read
French shipping and logistics giant CMA CGM has confirmed its interest in acquiring terminals from CK Hutchison, following the expiry of exclusive negotiations between the Hong Kong-based conglomerate and a consortium led by BlackRock over the weekend.
The preliminary agreement, initially announced in March, centred around the sale of a majority stake in Hutchison’s global port portfolio—valued at $22.8 (£17.7*) billion—to a group including BlackRock and Mediterranean Shipping Company (MSC), which is owned by the family of Italian shipping magnate Gianluigi Aponte. However, after several months of discussions and considerable opposition from Beijing, the exclusivity period concluded on Sunday, paving the way for competing offers.
“It’s very important for the industry, and it’s important for us as a major player in this sector,” said CMA CGM chief financial officer Ramon Fernandez during the company’s second-quarter results presentation on Monday. “We are present in 65 terminals around the world so we are following this operation very closely and are naturally interested in participating,” he added.
Hutchison stated on Monday that it remains in discussions with the original BlackRock-led consortium and is considering the inclusion of a “major strategic investor” from China. Sources have indicated that COSCO, the state-backed maritime giant, could emerge as a potential participant. Notably, COSCO is also a partner of CMA CGM within the Ocean Alliance.
Should CMA CGM proceed with acquiring a portion of Hutchison’s terminal assets, it would highlight the intensifying competition among the world’s leading container shipping lines—MSC, Maersk, COSCO, and CMA CGM—to gain vertical integration across the logistics chain, spanning vessels, containers, terminals, warehousing, and air freight.
The development marks the latest step in CMA CGM’s strategic expansion and diversification over the past three years, which has included acquisitions in e-commerce logistics, air cargo, and an expanding media portfolio.
*Currency conversion accurate at the time of writing.
Komentar