CMA CGM Group and infrastructure investment firm Stonepeak have agreed to form UNITED PORTS LLC, a U.S. joint venture designed to acquire 10 major CMA CGM-operated port terminals around the world. Under the agreement, Stonepeak will invest $2.4 billion for a 25% minority stake, while CMA CGM will hold 75% and retain full operational control of the terminals.
The new venture brings together a portfolio of terminals across six countries, spanning the United States, Brazil, Spain, India, Taiwan, and Vietnam. The assets included in the transaction are Fenix Marine Services in Los Angeles, Port Liberty terminals in New York and Bayonne, Santos terminals in Brazil, CSP Valencia and CSP Bilbao, Terminal Maritima del Guadalquivir, TTI Algeciras, Nhava Sheva Freeport Terminal in India, CMA CGM Kaohsiung Terminal in Taiwan, and Gemalink in Cai Mep, Vietnam.
The companies framed the partnership as both a portfolio investment and a longer-term platform for expansion. CMA CGM said it intends to reinvest the $2.4 billion in proceeds into the continued growth of its core businesses, while also expanding supply chain capacity to meet demand for modern shipping and logistics solutions across sea, land, air, and logistics.
Stonepeak described container terminals as critical infrastructure that is difficult to replace or replicate, positioning the joint venture as a chance to back a concentrated set of strategically located assets alongside one of the largest global shipping and logistics groups. Beyond the initial transaction, Stonepeak will have the opportunity to contribute up to an additional $3.6 billion for future joint terminal projects, supporting potential new development and investment activity in the United States and internationally.
The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals, including antitrust and foreign direct investment reviews.
KEY QUOTES:
“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. 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. By joining forces with a partner with strong infrastructure expertise, we strengthen our ability to invest further in our port terminals, secure access to key gateways and enhance service quality for our customers.”
Rodolphe Saadé, Chairman and CEO, CMA CGM Group
“Container terminals play an essential role in global trade and are among the most difficult to substitute or replicate transportation infrastructure assets. This joint venture represents a truly 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.”
James Wyper, Senior Managing Director, Head of U.S. Private Equity, and Head of Transportation & Logistics, Stonepeak
