French shipping and logistics giant CMA CGM has confirmed it is eyeing the potential acquisition of terminals from CK Hutchison, after exclusive talks between the Hong Kong conglomerate and a consortium led by BlackRock expired over the weekend.
The preliminary deal, first announced in March, involved the sale of the majority of Hutchison’s global port portfolio—valued at $22.8bn—to a group that included BlackRock and Mediterranean Shipping Company (MSC), owned by the family of Italian shipping magnate Gianluigi Aponte. But after several months of negotiations and strong pushback from Beijing, exclusivity lapsed on Sunday, opening the door to rival bids.
“It’s very important for the industry, and it’s important for us as a major player in this sector,” CMA CGM chief financial officer Ramon Fernandez told reporters during the presentation of the company’s second quarter results yesterday. “We are present in 65 terminals around the world so we are following this operation very closely and are naturally interested in participating,” he added.
Hutchison, meanwhile, said Monday it is continuing discussions with the original BlackRock-led group, and may include a “major strategic investor” from China, with sources pointing to COSCO, the state-backed maritime behemoth, as a possible entrant. COSCO is also a partner of CMA CGM in the Ocean Alliance.
If CMA CGM succeeds in acquiring part of the Hutchison portfolio, it would underscore the growing rivalry among the world’s top containerlines—MSC, Maersk, COSCO, and CMA CGM—to secure vertical control across the logistics value chain, from ships and containers to terminals, warehouses, and air cargo.
This latest move follows CMA CGM’s rapid diversification over the past three years, including acquisitions in e-commerce logistics, air freight, and a growing media empire.