CMA CGM S.A., the world’s third-largest container shipping group, has entered into a strategic partnership with Stonepeak Partners LP, to form United Ports LLC, a Joint Venture to acquire 10 of the major CMA CGM-operated port terminals worldwide.
Under the terms of the agreement, Stonepeak acquired a 25% minority stake in United Ports LLC for $2.4 billion. The deal further includes a commitment for up to $3.6 billion in additional investment.
DSK Legal assisted and advised CMA CGM on the Indian law aspects of the transaction, including conducting legal due diligence; advising on the implications of global consolidation for Indian operations and corporate structures; advising on key government and security approvals and clearances; and advising on rights and obligations under the relevant project and financing agreements.
The transaction team consisted of Manhar Gulani (Principal Associate), Mala Mehto (Principal Associate), Abhikalpa Ghosh (Senior Associate), Vedant Sinha (Associate), and Brijesh Ranjan Sahoo (Associate).
Avinash Kumar Khard (Partner) and Harvinder Singh (Partner) acted as the lead engagement partners, and Anjan Dasgupta (Partner) acted as the relationship partner for CMA CGM and provided strategic inputs on the transaction.
The transaction establishes United Ports LLC to consolidate ten strategically located port terminals across six countries, viz. Los Angeles Fenix Marine Services (United States), Port Liberty Terminals in New York and Bayonne (United States), Santos terminals (Brazil), CSP Valencia and CSP Bilbao (Spain), Terminal Maritima del Guadalquivir (Spain), TTI Algeciras (Spain), Nhava Sheva Freeport Terminal (India), CMA CGM Kaohsiung Terminal (Taiwan), and Gemalink in Cai Mep (Vietnam).
In India, the transaction includes the Nhava Sheva Freeport Terminal at Jawaharlal Nehru Port, Mumbai, which is India’s first deep-draft, automated container terminal, significantly enhancing the country’s container handling capacity, efficiency, and global trade connectivity.
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