CMA CGM, Stonepeak Complete $2.4 Billion United Ports Joint Venture

French shipping and logistics giant CMA CGM and infrastructure investment firm Stonepeak have officially completed the formation of United Ports LLC, finalizing a $2.4 billion joint venture that brings together a portfolio of major container terminals across the United States, Europe, Asia and South America. 

The transaction, first announced in January, closed after receiving all required regulatory approvals. Stonepeak has acquired a 25% stake in the new company for $2.4 billion, while CMA CGM retains a 75% ownership interest and full operational control.

United Ports initially includes nine CMA CGM-operated terminals in five countries, including Fenix Marine Services in Los Angeles,