Hessenatie and Noord Natie Finalize Merger

Friday, March 01, 2002
Yesterday the merger between Hessenatie and Noord Natie was finalized, as planned. The merged company will operate under the name Hesse-Noord Natie; 60 percent of the shares will be owned by CMB and 40 percent by Noord Natie. It is expected that the sale of a majority interest in Hesse-Noord Natie to PSA Corporation (Singapore) will be realized before the end of the first quarter. CMB will maintain a participating interest of 20 percent. Hesse-Noord Natie will operate a total of 22 terminals in the ports of Antwerp and Zeebrugge, including 6 container terminals in the port of Antwerp, and specialized terminals for general cargo goods, sugar, fruits and RoRo.

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