CMA CGM and Stonepeak agreed on 28 January to create United Ports LLC, a joint venture holding container terminals operated by the French shipping group, with Stonepeak paying $2.4bn for a 25% stake.
Why Stonepeak is buying United Ports LLC (25% stake in CMA CGM terminal portfolio)
CMA CGM said the partnership would help it develop its terminal business in the United States and globally, invest further in its ports and secure key gateways, and that it would reinvest the proceeds in its core businesses. Stonepeak described container terminals as among the hardest transport infrastructure assets to replicate.
“among the most difficult to substitute or replicate transportation infrastructure assets”
Deal terms and financing
CMA CGM retains 75% and full operational control. Stonepeak may invest up to a further $3.6bn alongside CMA CGM in future terminal projects.
Regulatory approvals and timing
Closing required antitrust and foreign direct investment approvals. The partners said on 28 July 2026 that formation was complete with nine terminals; CMA CGM's stake in Nhava Sheva Freeport Terminal in India is expected to be added once approved.
Market context
The initial portfolio spans the United States, Brazil, Spain, Taiwan and Vietnam and includes Fenix Marine Services in Los Angeles and Port Liberty in New York and Bayonne.
