The world's third-largest shipping line, France's CMA CGM Group, is poised to acquire a 26% stake in India's Adani Logistics, news reports said today. While CMA CGM officials have refused to give details, sources close to negotiations expect a final transaction within a few months.
Adani Logistics, which specializes in container cargo handling including container rail systems, is a wholly-owned subsidiary of the Mundra Port and Special Economic Zone, say reports.
Both Adani Logistics and the Mundra Port and Special Economic Zone are part of Ahmedabad-based global business conglomerate the Adani Group of companies.
Industry sources say that the French shipping major will benefit greatly from their acquisition as the Adani Group is about to unveil its second container terminal in Mundra.
Reports say that the Adani Group expects to invest close to $271 million developing Mundra's second container terminal.
Mundra's current container facility, the Mundra International Container Terminal, is being managed by DP World under a sub-concession agreement.
The Adani Group has also just built an inland railway container terminal at the Mundra Special Economic Zone, and industry sources say that the terminal will be operational come October.
Adani Logistics, which specializes in container cargo handling including container rail systems, is a wholly-owned subsidiary of the Mundra Port and Special Economic Zone, say reports.
Both Adani Logistics and the Mundra Port and Special Economic Zone are part of Ahmedabad-based global business conglomerate the Adani Group of companies.
Industry sources say that the French shipping major will benefit greatly from their acquisition as the Adani Group is about to unveil its second container terminal in Mundra.
Reports say that the Adani Group expects to invest close to $271 million developing Mundra's second container terminal.
Mundra's current container facility, the Mundra International Container Terminal, is being managed by DP World under a sub-concession agreement.
The Adani Group has also just built an inland railway container terminal at the Mundra Special Economic Zone, and industry sources say that the terminal will be operational come October.