The French shipping group CMA CGM and the US Stonepeak, an investment company in the real estate and infrastructure, will form the joint venture United Ports LLC which will be 75% and 25% owned respectively by the two partner and to which ten port terminals will be transferred for containers managed by the French company. The parties have disclosed that Stonepeak will invest $2.4 billion for its participation in the joint venture.

CMA CGM is active in the port terminal sector through the wholly owned subsidiary CMA Terminals and through Terminal Link, a 51% joint venture by the French group and 49% by the Chinese China Merchants Port Holdings Co. (CMPort). CMA CGM and Stonepeak specified that ad be sold to United Ports will be ten primary terminals that are part of the terminal network of the French group, namely the one operated by the wholly owned subsidiary Fenix Marine Services (FMS) in the U.S. Port of Los Angeles, U.S. terminals in the port areas of New York and Bayonne managed by the wholly owned subsidiary Port Liberty Bayonne, the one operated by the subsidiary Santos Brasil in the port Brazilian port of Santos, the terminals in the Spanish ports of Valencia (CSP Iberian Valencia Terminal) and Bilbao (CSP Iberian Bilbao Terminal) operated through shareholdings in subsidiaries of the Chinese COSCO Shipping Ports (Spain) Terminals, the terminal in the river port of Seville managed by the subsidiary Terminal Maritima del Guadalquivir with Spain's Boluda Corporación Marítima, the container terminal in the Spanish port of Algeciras managed by the company directly and indirectly wholly subsidiary TTI Algeciras, the terminal in the Indian port of Nhava Sheva managed by the Nhava Sheva Freeport joint venture Terminal with the Indian J M Baxi Ports & Logistics, the terminal in the Taiwanese port of Kaohsiung operated by the company wholly-owned subsidiary CMA CGM Kaohsiung Terminal and the one in the Vietnamese port of Cai Mep operated by the subsidiary Gemalink Internation Port with the Vietnamese Gemadept Corporation.

The two partners specified that the operational activities of the new United Ports, which is expected to be established in the second half of this year, will be under the full control of the CMA CGM.

The transport and logistics portfolio of the Stonepeak is currently mainly focused on Textainer company, active in the rental and container sales, and TRAC Intermodal, mainly active in in the supply of chassis for the transport of containers.