Los Angeles Terminal Acquired by CMA CGM

CMA CGM announces that it is buying Fenix Marine Services (FMS) terminal, which happens to be the third largest terminal located in the Los Angeles/Long Beach port area.

The transaction was facilitated by HSBC Continental Group Europe and Willkie Farr & Gallagher in which CMA CGM will pay $2.3 billion for acquiring the terminal with plans to take over operations once the transaction is finalized.

“Fenix Marine Services is one of the largest terminals in this country and one of its most strategic gateways. It is a key industrial facility which will significantly strengthen our position and support our rapid growth in this market,” said Rodolphe Saadé, Chairman and CEO of the CMA CGM Group.