CMA CGM Group has agreed to acquire a 90% stake in the Fenix Marine Services (FMS) terminal in Los Angeles, currently held by EQT Infrastructure III, based on an enterprise value of US$2.3bn.
Currently holding a 10% stake in the terminal, the French company will become sole owner of the FMS facility post transaction closing.
FMS is the third largest terminal in the Los Angeles/Long Beach port complex in terms of capacity (around 2.5m teu) and one of the largest in North America. The terminal also benefits from a long-term concession agreement through 2043.
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