News / CMA CGM completes 90% sale of US west coast Global Gateway South terminal

© Khunaspix Dreamstime.

CMA CGM has completed the sale of 90% of the APL terminal Global Gateway South, located in the Los Angeles-Long Beach port complex, to an infrastructure investment consortium.

Whether the deal will propel much-needed consolidation in the diversified terminal environment of the US’s largest container gateway remains to be seen however.

The deal closed at $875m, the 90% equity stake bought by infrastructure investment funds EQT Infrastructure III and P5 Infrastructure, led by managers who know the port business pretty well.

P5 is led by Sean ...