HESSENATIE, NOORD NATIE MERGER APPROVED
Hessenatie and Noord Natie have received approval to merge into the largest terminal operator in the port of Antwerp.
The merged company, which will operate under the name Hesse Noord Natie, will be 60-percent owned by CMB and 40-percent owned by Noord Natie. The merger was approved by the Competition Board.
It is expected that the majority interest in Hesse-Noord Natie will be sold to PSA Corp. by November. CMB will keep 20 percent of the shares while Noord Natie and NMBS will define their respective interests.
Hesse Noord Natie operates 22 terminals, including seven container terminals, in the port of Antwerp, and specialized terminals for general cargo, sugar, fruits and roll-on/roll-off. The group also has three terminals in Zeebruges. The companies in 2000 processed a combined volume of about 54 million tons, including about 3.6 million TEUs.