Continental Rail Sold To CMA CGM

On 30 June 2021, the ACS Group announced that it had sold its railfreight operating subsidiary, Continental Rail, to the French CMA CGM concern (Compagnie Maritime d'Affrètement and Compagnie Générale Maritime) for 19.9 million EUR.

CMA CGM is one of Europe's largest shipping concerns, and is also involved in shore-based logistics activities. In Spain it is active at 18 ports, where its activities generate freight for the evolving Atlantic Corridor. 

Madrid-based Continental Rail was founded by Florentino Pérez on 17 May 2000, through the Grupo Vías concern, formed by Constru-Rail, LTF, Sicsa and UTE Puerto Musel, with Vías y Construcciones being the sole shareholder. It received its freight operator's licence on 14 October 2005, and ran its first freight (containers) on 15 February 2007, between Coslada Dry Port (Madrid) and València port. 

Although not a regular passenger service operator, it gained some fame on 18 November 2017 when it was the titular operator of the Zaragoza-based 'Tren Azul', composed of historic stock and Wagon-Lits carriages, between Zaragoza-Delicias and Canfranc, in connection with the filming of the latest version of 'Murder on the Orient Express'. However, when the market was opened up for open access passenger services, Continental Rail decided not to participate in the bidding for train paths.

Continental Rail has submitted a report to the National Securities Market Commission (Comisión Nacional del Mercado de Valores - CNMV), and a binding sale agreement is expected to be signed soon.