Baker & McKenzie is the legal advisor to China Merchants Holdings (International) Company Limited (“CMHI”), the largest public port operator in China, on its strategic partnership with CMA CGM, the world’s third largest container shipping company, and its agreement to acquire 49% equity interest in Terminal Link, a wholly-owned subsidiary of the CMA CGM Group, for €400 million.
Terminal Link, based in Marseilles, France, operates, develops and invests in a global network of 15 terminals located on the world’s key international shipping routes. This transaction is part of a wider strategic partnership between CMA CGM and CMHI as business partners in operating and developing container terminals on a global basis.
CMHI invests in and operates port business from a portfolio located primarily in eight major cities in China – Shenzhen, Hong Kong, Shanghai, Ningbo, Qingdao, Tianjin, Xiamen and Zhanjiang, as well as assets in Sri Lanka and Africa.
The multi-jurisdictional Baker & McKenzie team is led by Hong Kong-based M&A partners Poh Lee Tan and Tracy Wut. The team also includes Hong Kong-based special counsel Michael Horman as well as partners Alyssa Gallot and Hugo Sanchez De La Espada from Paris. They are supported by a wider team of Baker & McKenzie lawyers based in Paris, Casablanca, Brussels, Amsterdam, Washington D.C. and Houston.
Commenting on the transaction, Poh Lee Tan said, “We are delighted to have had the opportunity to assist CMHI on this significant cross-border transaction. We look forward to working closely with CMHI as they implement their strategy of expanding their international footprint.”
