CMA CGM Group and Stonepeak have announced an agreement to launch United Ports LLC, a US joint venture (JV) to acquire 10 major CMA CGM-operated port terminals worldwide.
The JV is backed by a $2.4 billion investment from Stonepeak for a 25 per cent minority stake.
The transaction will include 10 key assets: Los Angeles Fenix Marine Services (United States), Port Liberty terminals in New York and Bayonne (United States), Santos terminals (Brazil), CSP Valencia and CSP Bilbao (Spain), Terminal Marítima del Guadalquivir (Spain), TTI Algeciras (Spain), Nhava Sheva Freeport Terminal (India), CMA CGM Kaohsiung Terminal (Taiwan), and Gemalink in Cai Mep (Vietnam).
CMA CGM and Stonepeak will respectively hold 75 per cent and 25 per cent ownership stakes in United Ports LLC, while CMA CGM will retain full operational control.
CMA CGM plans to reinvest the $2.4 billion in proceeds from the transaction in the continued growth of its core businesses, while expanding supply chain capacity to meet the ever-growing demand for shipping and logistics solutions across sea, land, air and logistics.
The announcement also marks the beginning of a long-term relationship between CMA CGM and Stonepeak, including the potential to develop and support future investment capacity and new terminal projects in the US and globally.
As part of the transaction, Stonepeak will have the opportunity to contribute an additional $3.6 billion in funding for future joint terminal projects.
The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals, including relevant antitrust and foreign direct investment approvals.
“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,” said Rodolphe Saadé, Chairman and CEO of CMA CGM Group.
“Through this strategic partnership, we bring together ten CMA CGM-operated terminals across six countries, including major facilities such as FMS in Los Angeles, Port Liberty in New York, Santos in Brazil and Nhava Sheva in India.
“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.
“This joint venture represents a 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.”