CMA CGM to buy majority stake in SOFRANA Unilines
CMA CGM Group, through its subsidiary ANL, has agreed to acquire the majority of shares in New Zealand-based shipping line SOFRANA Unilines for an undisclosed sum.
SOFRANA Unilines currently operates a fleet of ten vessels across eight trade-lanes, which are either run by the company directly or in partnership with other companies.
The company serves 21 ports in Australia, New Zealand, Papua New Guinea and the Pacific islands.
The combined entity SOFRANA ANL is expected to join CMA CGM’s portfolio of regional businesses following the completion of the latest agreement. It will also join OPDR and MacAndrews in Europe, and CNC in Asia.
SOFRANA ANL is expected to benefit from ANL’s reach across Asia, the Indian subcontinent (ISC) and North America, as well as SOFRANA’s expertise regarding the Pacific islands trade routes.
CMA CGM Group is set to provide financial and operational support to the newly proposed entity.
The finalisation of the deal is slated to be completed within this month.
ANL currently offers a total of 16 trade lanes, covering major ports across Australia, New Zealand, Papua New Guinea, North Asia, South East Asia, ISC and North America.
France-based CMA CGM Group currently has presence in more than 160 countries and comprises a workforce of more than 29,000 employees worldwide.
The company provides services to more than 420 of the world’s 521 commercial ports via a fleet of 445 vessels.
CMA CGM previously announced plans to acquire Mercosul Line in June as part of a separate development, which is in line with the company's aim to build up its operations in Brazil.