The acquisition of 60 per cent of the shares in CNMP LH has been successfully completed as HGT looks to expand terminal portfolio and strengthen its competitive position in France
Hanseatic Global Terminals (HGT) has successfully completed the acquisition of 60 per cent of the shares in CNMP LH from Seafrigo Group.
CNMP LH operates the Atlantique container terminal in Le Havre, France, as an independent company for its customers worldwide.
The remaining 40 per cent of the shares in CNMP LH will continue to be held by Seafrigo Group, a company specialised in temperature-controlled food logistics.
The contracting parties have agreed to not disclose any financial details of the transaction.
Le Havre numbers among the ten largest ports in Europe, and is described as ”the most important port for sea transport to and from France” with an annual container throughput of 3mn TEU.
The container throughput of the CNMP LH terminal is expected to grow in the coming years, including in the reefer container business, HGT said.
“By acquiring a majority stake in the CNMP LH terminal in Le Havre, we are strengthening our position in one of our core European markets,” said Dheeraj Bhatia, chief executive officer at HGT.
”At the same time, we are continuing to expand our global terminal portfolio while paving the way for targeted investments to enhance efficiency.
”The transaction will therefore directly contribute to the vigorous realisation of our Strategy 2030,” he noted.
“We are very pleased to have a strong partner at our side in Hanseatic Global Terminals, with whom we will continue to modernise the CNMP LH terminal in Le Havre,” said Eric Barbé, president of Seafrigo Group.
”This will significantly raise the profile of our joint terminal as an important gateway for container transports in the Port of Le Havre.”
HGT said that terminal and infrastructure investments represented a ”crucial component” of its strategic agenda, aimed at further developing its portfolio to expand to more than 30 terminals by 2030.
