Stonepeak and CMA CGM complete formation of United Ports
- United Ports brings together 9 major CMA CGM-operated port terminals in the US, Brazil, Spain, Taiwan and Vietnam, including Fenix Marine Services in Los Angeles, Port Liberty in New York and Bayonne, 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
- Stonepeak may also invest up to an additional $3.6 billion to pursue new investment opportunities in high-growth port assets in partnership with CMA CGM through United Ports
Stonepeak and The CMA CGM Group, a French shipping company, have completed its previously announced formation of United Ports LLC.
Stonepeak has invested $2.4 billion in United Ports for a 25 percent stake while CMA CGM retains a 75 percent ownership stake as well as full operational control of the joint venture.
United Ports brings together 9 major CMA CGM-operated port terminals in the US, Brazil, Spain, Taiwan and Vietnam, including Fenix Marine Services in Los Angeles, Port Liberty in New York and Bayonne, 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 JV, CMA CGM and Stonepeak plan to accelerate the development and modernization of the portfolio’s terminals.
Stonepeak may also invest up to an additional $3.6 billion to pursue new investment opportunities in high-growth port assets in partnership with CMA CGM through United Ports.
