-
CMA CGM Group and Stonepeak have formed a joint venture, named United Ports LLC , that will acquire 10 port terminals operated by CMA CGM units
-
Stonepeak is investing $2.4 billion for a 25% minority stake in United Ports
-
CMA CGM will hold 75% and retain full operational control of the terminals
-
The 10 terminals are in the US, Spain, Brazil, India, Taiwan, and Vietnam
-
The two companies are also looking at a “long-term relationship” that will include the possible development of new terminal projects globally
French shipping and logistics company CMA CGM Group and American investment firm Stonepeak have formed a joint venture, named United Ports LLC , that will acquire 10 port terminals operated by CMA CGM units.
“The creation of United Ports LLC, our joint venture with Stonepeak, marks an important step in the development of our terminal activities in the United States and globally,” Rodolphe Saadé, chairman and CEO of CMA CGM Group, said in a joint press release announcing the partnership.
The 10 terminals are:
- US – Los Angeles Fenix Marine Services and Port Liberty terminals in New York and Bayonne
- Brazil –Santos terminals
- Spain – CSP Valencia and CSP Bilbao, Terminal Maritima del Guadalquivir, and TTI Algeciras
- India – Nhava Sheva Freeport Terminal
- Taiwan – CMA CGM Kaohsiung Terminal
- Vietnam –Gemalink in Cai Mep
“Through this strategic partnership, we bring together ten CMA CGM-operated terminals across six countries… 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,” Saadé said.
READ: CMA CGM to invest $20B in US maritime transport, logistics over next four years
Stonepeak is an alternative investment firm specializing in infrastructure and real assets. It is investing $2.4 billion for a 25% minority stake in United Ports.
“Container terminals play an essential role in global trade and are among the most difficult to substitute or replicate transportation infrastructure assets,” said James Wyper, senior managing director, Head of U.S. Private Equity, and head of Transportation & Logistics at Stonepeak.
READ: CMA CGM performs strongly in 2024; income up 57%
CMA CGM will hold 75% and retain full operational control of the terminals. It plans reinvest the $2.4 billion in proceeds from the transaction in the continued growth of core businesses, while expanding supply chain capacity to meet the ever-growing demand for state-of-the-art shipping and logistics solutions across sea, land, air and logistics.
“This joint venture represents a truly differentiated opportunity to invest in a high-quality portfolio of strategically located terminals alongside one of the largest and most respected shipping and logistics groups in the world. We look forward to working closely with CMA CGM’s expert team to support this critical infrastructure,” Wyper said.
The two companies are also looking at a “long-term relationship” that will include the possible development of new terminal projects in the US and globally.
“As part of the transaction, Stonepeak will have the opportunity to contribute an additional $3.6B in funding for future joint terminal projects,” the partner firms said.
The transaction is expected to be completed in the second half of 2026, subject to customary regulatory approvals, including relevant antitrust and foreign direct investment approvals.
