The CMA CGM Group has announced the merger, effective January 1st, 2018, of its subsidiaries MacAndrews and OPDR whose headquarters will be located in Hamburg.
The union between these two companies specialized in intra-European transport enables the CMA CGM Group to strengthen its multimodal offer in Europe, particularly thanks to the complementarity of the geographical zones covered today by MacAndrews and OPDR, in order to create the sector’s leader.
MacAndrews will bring together the strengths of the two subsidiaries and will be characterized by:
• a presence in 16 countries
• 36 agencies
• 595 employees (310 OPDR / 285 MacAndrews)
• 18 services
Acquired by CMA CGM in 2002, MacAndrews is the oldest shipping company in Europe. It offers rail, land and maritime transport services to customers and is a specialist in container transport on short-sea routes as well as multimodal solutions in Europe.
MacAndrews connects Great Britain, the Iberian Peninsula and Poland. OPDR, acquired by the CMA CGM Group in 2015, is an expert in intra-European short-sea transport and logistics. OPDR mainly covers Central Europe, Spain (including the Canary Islands), Portugal and Morocco.
This merger is fully in line with the Group’s strategy to develop its intra-regional activities.
Employment in each entity, as well as existing services, will be maintained.
Separately, the Board of Directors of CMA CGM has announced a change in the corporate governance of the business.
In accordance with the wish of Jacques Saadé and after having reunited the positions of CEO and Chairman of the Board, the Board of Directors has decided to appoint Rodolphe Saadé to the position of Chairman of the Board and Chief Executive Officer of the CMA CGM Group, and Jacques Saadé, Founder-Chairman.
Jacques Saadé stated:
“To prepare the future, last February 7th I appointed Rodolphe Saadé to the position of Chief Executive Officer. His strategy has delivered very good operational and financial results. The Group is strong. I am very confident in its future. That is why I have decided to entrust to Rodolphe the Chairmanship of the Group in addition to his current responsibilities as CEO.
“He has the full support of the Board of Directors, the management team and the 29,000 employees with whom he will pursue the development of the CMA CGM Group, to which I dedicated my entire life.”
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, declared:
“My father’s decision is an historic one for our Group which became a key global player under his chairmanship.
“Jacques Saadé is both an extraordinary entrepreneur and visionary. I will pursue with determination the development of our group and strengthen its position as a leader.”
Separately, CMA CGM has complete the sale of a 90% equity interest in GGS in Los Angeles
The CMA CGM Group has completed the sale of a 90% equity interest in Global Gateway South terminal (GSS) in Los Angeles (United States) to EQT Infrastructure III and its partner P5 Infrastructure (P5), for an Enterprise Value of USD 875 million. Consequently, CMA CGM received a cash consideration of about USD 820 million that may be completed according to the terms announced last July.
CMA CGM will remain a minority shareholder with 10% of the GGS terminal and will continue to be a major user of the facility.
The disposal of GGS enables CMA CGM to strengthen its financial structure in line with the plan communicated at the time of NOL’s acquisition in June 2016.
BNP Paribas and HSBC acted as financial advisors and Willkie Farr & Gallagher acted as legal advisor to CMA CGM.