April 25, 2020
CMA CGM says it still owns and controls Kingston Freeport
French company CMA CGM still has control over Kingston Freeport, according to J Hans de Jong, chief executive officer of Kingston Freeport Terminal Limited.
In a letter on Friday, de Jong made reference to the Caribbean Business Report story of Friday, headlined ‘Chinese firm now majority owners of Kingston Freeport management company’.
“The 100 per cent ownership of Kingston Freeport Terminal Limited (KFTL) is held by Terminal Link, the joint venture between CMA CGM and China Merchants Port Holdings Company Limited (CMP). CMA CGM still owns and controls 51 per cent of Terminal Link,” he said.
“Therefore, as far as beneficial owners of KFTL, CMA CGM retains majority ownership and control of KFTL and not CMP,” de Jong said.
