News / CMA CGM buys major Los Angeles container terminal operator for $2.3bn

APL Merlion calls Fenix Terminal Port of Los Angeles

CMA CGM is set to massively expand its footprint in the Los Angeles-Long Beach port complex, agreeing to acquire LA terminal operator Fenix Marine Services.

The carrier group already holds a 10% stake in the box facility and will become the sole owner when it buys the 90% owned by private equity fund EQT Infrastructure III for $2.3bn.

According to CMA CGM, the terminal is the third-largest in the LA-LB gateway complex, with an annual handling capacity of around 2.5m teu and ...