Stonepeak and CMA CGM Group, a global player in sea, land, air and logistics solutions, have agreed to launch United Ports LLC, a U.S. joint venture that will acquire 10 of the major CMA CGM-operated port terminals worldwide.
The JV is backed by a $2.4 billion investment from Stonepeak for a 25 percent minority stake.
Rodolphe Saadé, chairman and CEO of CMA CGM Group, said the creation of United Ports marks an important step in the development of the company’s terminal activities in the United States and globally.
“By joining forces with a partner with strong infrastructure expertise, we strengthen our ability to invest further in our port terminals, secure access to key gateways and enhance service quality for our customers.”
The transaction will include 10 key assets: Fenix Marine Services in Los Angeles, Port Liberty terminals in New York City and Bayonne, N.J.; Santos terminals in Brazil; CSP Valencia, CSP Bilbao and Terminal Maritima del Guada
