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

Published 04 December 2017

The CMA CGM Group completed 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 $875m.

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.

CMA CGM Group is present in more than 160 countries through its network of over 755 agencies, with more than 29,000 employees worldwide (4,500 in France).

With a young and diversified fleet of 489 vessels, the CMA CGM Group serves over 420 of the world's 521 commercial ports. Through more than 200 shipping lines, the company operates on every one of the world's seas. Its global presence and efficient ships like the CMA CGM BOUGAINVILLE enabled the CMA CGM Group to transport a volume of 15.6 million TEUs last year.



Source: Company Press Release