CMA CGM and Stonepeak form joint venture United Ports LLC
French shipping giant CMA CGM and private equity firm Stonepeak announced the formation of United Ports LLC, a joint venture to expand CMA CGM's global terminal network. Stonepeak will invest $2.4 billion for a 25% minority stake, while CMA CGM retains 75% and full operational control. The venture includes 10 port assets across four continents, including terminals in Los Angeles, New York, Brazil, Spain, India, Taiwan, and Vietnam. CMA CGM plans to reinvest the $2.4 billion into its core transportation businesses (air cargo, ocean shipping, trucking, logistics). Stonepeak may contribute an additional $3.6 billion for future projects. The deal is expected to close in the second half of 2026, pending regulatory approvals. The article also notes broader private equity interest in port infrastructure, referencing BlackRock's attempted $23 billion acquisition of CK Hutchison terminals.
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