Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 18.03.2020  
C(2020 ) 1832 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M.9789  – CMA CGM / CMP / TERMINAL LINK  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 25 February 2020 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the 
undertakings CMA CGM S.A. ( “CMA CGM ”, France) and China Merchants Port 
Holdings Company Limited ( “CMP ”, Hon g Kong SAR),  acquire within the meaning 
of Article 3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of 
the undertaking s CMA CGM Port Terminals ( France) and Terminal Link Holding Pte. 
Ltd (Singapore)  (together the “Terminal assets” ) to be contributed to Terminal Link 
S.A.S. (France) , which is  a pre -existing joint -venture jointly controlled by CMA CGM 
and CMP. The concentration is accomplished by wa y of purchase of shares .3  
2. The business activities of the undertakings concerned are:  
 for CMA CGM:  a global player active in container liner shipping, port terminal 
services, freight forwarding and contract logistics services worldwide,  
 for CMP : a global port developer, investor and operator, operating container 
terminals located mainly in China, as well as South Asia, Africa, the Americas, 
Oceania and Europe,  
 for the Terminal assets : shareholdings in various terminals located in China, 
Vietnam, Thailand, Singapore, Jamaica, Ukraine, Iraq, India and the Netherlands . 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 72, 05.03.2020 , p. 10. 

2 3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (a) of the  Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agre ement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .