CMA CGM completes sale of 90% stake in Los Angeles terminal

CMA CGM completes sale of 90% stake in Los Angeles terminal

France’s CMA CGM Group has completed the sale of a 90% equity interest in Global Gateway South terminal at Los Angeles to EQT Infrastructure and P5 Infrastructure.

CMA CGM pockets $820m from the deal, which it had announced in July, while retaining a 10% stake in the terminal allowing it to remain a major user of the terminal with preferential conditions.

CMA CGM acquired the terminal in 2015 as part of the $2.4bn takeover of Singapore’s Neptune Orient Lines (NOL), however the French line’s strategy is to focus on its shipping business while securing operations through shared ownership of key terminals.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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