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China Merchants is paying $1 billion to buy into the Odesa container terminal

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China Merchants Port Holdings is buying a minority stake in Odesa Port’s container terminal, Brooklyn – Kiev Port LLC, ubn.news reports.

A unit of a Chinese state company, China Merchants is paying $1 billion to buy into the Odesa container terminal and nine other container terminals worldwide, reports the Center for Transportation Strategies.

The seller, Rodolphe Saadé, CEO of the CMA CGM Group of Marseilles, says: “Given the high uncertainty caused by the coronavirus crisis, the closure of this transaction, as announced previously demonstrates the sustainability of the CMA CGM Group.”

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