Freight News, Sea

CMA CGM Sells LA Terminal Stake

[ July 11, 2017   //   ]

CMA CGM has signed a sale agreement for the Port of Los Angeles’ Global Gateway South Terminal. 

On June 30, CMA CGM signed a binding agreement for the sale of a 90% equity interest in Global Gateway South terminal in Los Angeles for a cash consideration of $817 million. Following the completion of the transaction, CMA CGM will remain a minority shareholder holding 10% of the GGS terminal, which it acquired last year as part of Neptune Orient Lines (NOL).