French boxline is looking to make some quick cash from offloading assets of new acquisition Neptune Orient Lines (NOL). Bloomberg is reporting CMA CGM has put NOL’s terminals up for sale for $1bn.
NOL, which runs containerline APL, has terminals in the US, Japan and Taiwan as well as joint ventures in Vietnam, Thailand, China and the Netherlands.The Wall Street Journal reported last month that HSBC and BNP Paribas are assisting CMA CGM with the terminal sale.
On sealing the deal to get NOL, CMA CGM said it would look to sell assets and cut costs to make around $1bn in the coming two years.
Source: Splash 247 (LF)
Source: Splash 247