CMA CGM has signed an agreement to acquire a 90 percent stake in the Fenix Marine Services (FMS) container terminal in Los Angeles, USA.
CMA CGM currently holds a 10 percent stake in the terminal and it will become sole owner of the FMS facility upon closure of the transaction with EQT Infrastructure III. FMS has a capacity of 2.5 million teu and is the third-largest terminal in the Los Angeles/Long Beach port area.
As part of its plan, CMA CGM said it would invest at the terminal to extend the container yard, expand railway capacity, construct a new berth, and accelerate its digitalisation efforts.
