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CMA CGM completes the sale of a 90% equity interest in Global Gateway South Terminal in Los Angeles

The CMA CGM Group completed today the sale of a 90% equity interest in Global Gateway South terminal (GSS) in Los Angeles (United States) to EQT Infrastructure III (EQT Infrastructure ) and its partner P5 Infrastructure (P5), for an Enterprise Value of USD 875 million. Consequently, CMA CGM received a cash consideration of about USD 820 million that may be completed according to the terms announced last July.

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.

BNP Paribas and HSBC acted as financial advisors and Willkie Farr & Gallagher acted as legal advisor to CMA CGM.

 

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