CMA CGM exit the Russian market

CMA CGM exit the Russian market

CMA CGM has concluded a binding cashless share exchange agreement with Russia's Global Ports for the handling of Russian investments, completing its exit from the Russian loading and unloading market.

According to the agreement, CMA Terminals, a wholly-owned subsidiary of CMA, will exchange its 25% stake in CD Holding Oy of Finland and 25% in Multi Link Terminals of Ireland, The two companies own Russia's Yanino Logistics Park (LP) and Moby Dik Marine Terminal (MD), respectively. In the non-cash deal, the Global Ports Group will offer CMA Terminals a 25 per cent stake in Finnish terminal operator Multi-Link Terminals.

Following the deal, Global Ports Group and CMA Terminals will each own 50 percent of Finnish terminal operator Multi-Link Terminals. Global Ports Group's stake in the company was cut from 75 per cent to 50 per cent and it also gained full control of two Russian terminals.

Maersk earlier also divested its 30.75 percent stake in Russian container terminal operator Global Ports Investments PLC (GPI) and sold it to long-time partner Delo Group in a full exit from the Russian market.

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