French container carrier’s port branch CMA Terminals commits to cash free share swap of Russian ports with larger stake in Finnish terminal operator.
CMA CGM’s terminal operating services completes withdrawal from Russian stevedoring markets through exchange of equity with Russian terminal operator Global Ports, a statement reads.
Up until now, CMA Terminals has had owner’s shares in Russian port operators Yanino Logistics Park and Moby Dik through a string of subsidiaries with Global Ports now acquiring full control over the Russian terminals.
The French operator has entered into a binding agreement with Global Ports exchanging 25 percent of Holding Oy, Finland and 25 percent of Multi Link Terminals LTD, Ireland – which own Yanino Logistics Park and Moby Dik respectively – to receive 25 percent of Multi Link Terminals Oy, Finland upping its stake in the company to 50 percent.
For several years running, Maersk owned roughly a third of Global Ports. Following the Russian invasion of Ukraine in February last year, Maersk accelerated divestment of its Russian equities with transaction finalizing in September.
It was Russian Delo Group, owned by business tycoon Sergey Shiskharev, which acquired Maersk’s position in Global Ports.
