CMA CGM and Stonepeak launch $2.4B terminal joint venture

Marseille-based container shipping line CMA CGM and infrastructure investment firm Stonepeak have launched the U.S. joint venture United Ports LLC to acquire ten major CMA CGM-operated port terminals worldwide, including in the U.S., Brazil and Spain, as well as across Asia.

Under the deal, Stonepeak will invest $2.4bn to acquire a 25% minority stake in the newly formed joint venture.

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 Maritima 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% and 25% ownership stakes in United Ports LLC, while CMA CGM will retain full operational control.

CMA CGM plans to reinvest the $2.4bn 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 U.S. and globally.

As part of the transaction, Stonepeak will have the opportunity to contribute an additional $3.6bn 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.”