CMA CGM completes sale of Los Angeles TerminalStaff Writer | December 4, 2017
The CMA CGM Group completed the sale of a 90% equity interest in Global Gateway South terminal (GSS) in Los Angeles to EQT Infrastructure III and its partner P5 Infrastructure (P5), for an Enterprise Value of $875 million.
Acquisition CMA CGM will remain a minority shareholder
CMA CGM will remain a minority shareholder with 10% of the GGS terminal and will continue to be a major user of the facility.
The disposal of GGS enables CMA CGM to strengthen its financial structure in line with the plan communicated at the time of NOL’s acquisition in June 2016. ■