Deals
French Shipper CMA CGM Agrees to Buy California Terminal
- The agreement has an enterprise value of $2.3 billion
- EQT had been working with Rothschild & Co. to solicit interest
This article is for subscribers only.
CMA CGM SA, one of the world’s largest shipping companies, agreed to buy Fenix Marine Services, which operates a container terminal in the Port of Los Angeles, in a deal with an enterprise value of $2.3 billion.
CMA CGM reached the agreement with EQT Infrastructure, according to a statement Wednesday. The shipper, which already owned a 10% stake in the Fenix terminal, beat out offers from other bidders including infrastructure funds, according to people with knowledge of the matter, Bloomberg News reported Tuesday.