The world's third-largest liner operator is taking a major leap toward becoming a major player in the ports business.
French liner CMA CGM and private equity investor Stonepeak of New York today announced the formation of United Ports LLC, a joint venture aimed at expanding the former's global network of marine terminals.
Stonepeak will invest $2.4 billion in the initiative, and receive a 25% minority stake, the partners said in a release.
"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 Saade, chairman and chief executive of closely-held CMA CGM Group.
The venture opened its doors with what are described as 10 key port **** ets on four continents:
#liner #major
French liner CMA CGM and private equity investor Stonepeak of New York today announced the formation of United Ports LLC, a joint venture aimed at expanding the former's global network of marine terminals.
Stonepeak will invest $2.4 billion in the initiative, and receive a 25% minority stake, the partners said in a release.
"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 Saade, chairman and chief executive of closely-held CMA CGM Group.
The venture opened its doors with what are described as 10 key port **** ets on four continents:
#liner #major
1 day ago
