CMA CGM Group buys stakes in Spain
The CMA CGM Group, headquartered in Marseille, is acquiring shares in Cosco Shipping Ports (Spain) Holding, (CSP) from TPIH Iberia, corresponding to an indirect stake of 49% in CSP’s Iberian Valencia Terminal, and an indirect stake of 38% in CSP’s Iberian Bilbao Terminal.
CMA CGM expects that complementing its terminals in TTIA Algeciras and in Sevilla, CSP Bilbao and Valencia will allow the group to support its end to end shipping and logistics inland solutions and offer services to customers in Spain to connect them to the world.
Both sea terminals provide intermodal connections to the Spanish hinterland, including rail. CSP Bilbao has a capacity of 950,000 teu and connects Spain with the main ports in Northern Europe.
CSP Valencia, one of Spain’s largest container terminals (3.5 million teu), is a strategic hub in the Mediterranean. (ah)