CMA CGM sells 90% stake in LA container terminal for US$817m

Paris

FRENCH container shipping firm CMA CGM said on Monday that it had agreed to sell a 90 per cent stake in a Los Angeles terminal to infrastructure funds for US$817 million in cash.

CMA CGM will retain a 10 per cent interest in the Global Gateway South terminal after the deal with funds EQT Infrastructure and its partner P5 Infrastructure, the company said in a statement.