Shipping group CMA CGM plans to raise $2 billion to support its previously announced takeover of CEVA Logistics, half of which will be generated from a sale of port assets to a joint venture with China Merchants Port, it said on Monday.
CMA CGM, which acquired Swiss-based CEVA this year to expand into the land logistics area, said it would raise $968 million by selling stakes in port terminals to the Terminal Link venture, in which it holds a 51% stake and China Merchants 49%.
The French-based CMA CGM also plans to raise $860 million from the sale and leaseback of vessels.
