Stonepeak and the CMA CGM Group, a global player in sea, land, air and logistics solutions, have formed UNITED PORTS, with Stonepeak investing $2.4 billion for a 25 percent stake in the new entity. CMA CGM retains a 75 percent ownership stake as well as full operational control of the joint venture.
UNITED PORTS is a port infrastructure joint venture joining nine major port terminals operated by CMA CGM in the United States, Brazil, Spain, Taiwan and Vietnam, including Fenix Marine Services in Los Angeles, Port Liberty in New York and Bayonne, Santos, CSP Valencia and Bilbao, TTI Algeciras, Kaohsiung Terminal, and Gemalink. This initial portfolio is expected to be expanded in the coming months with the addition of CMA CGM’s stake in Nhava Sheva Freeport Terminal.
As part of this port infrastructure joint venture, CMA CGM and Stonepeak plan to accelerate the development and modernization of the portfolio’s terminals. This will include financing port capacity expansi
