Sayenko Kharenko secures Ukrainian merger clearance for acquisition of two Spanish ports by CMA CGM

Sayenko Kharenko antitrust team has provided legal assistance to CMA CGM in obtaining merger clearance of the Antimonopoly Committee of Ukraine for the acquisition of 49% of shares in COSCO SHIPPING Ports (Spain) Holding S.L. (COSCO). A respective stake in COSCO will allow CMA CGM to expand its container terminal footprint in Europe and the Mediterranean and to support its end-to-end shipping and logistics inland solutions by acquisition of two Spanish terminals – in Valencia and Bilbao. The deal was successfully completed on 29 September 2023 following receipt of all necessary regulatory approvals, as announced by COSCO. 

Sayenko Kharenko antitrust team has proved to the Antimonopoly Committee of Ukraine that a combination of the parties’ activities would not lead to significant market increments and demonstrated the absence of any competition concerns resulting from the deal. 

The CMA CGM Group is a world leader in shipping and logistics. With a presence in 160 countries through 400 offices, 750 warehouses, 155,000 employees and a wide fleet of 620 vessels, CMA CGM serves 420 of the world’s 521 commercial ports and operates 257 shipping lines.

Sayenko Kharenko team advising on the project included counsel Julia Kuyda, associate Snizhanna Sheshliuk, junior associate Svitlana Derkach under the supervision of partner Volodymyr Sayenko.