CMA CGM completed the acquisition of the remaining 90% stake in Fenix Marine Services from EQT for $2.07bn.

CMA CGM, a provider of marine transportation and logistics services, completed the acquisition of the remaining 90% stake in Fenix Marine Services, an operator of a container terminal, from EQT for $2.07bn. “Fenix Marine Services plays an integral role in the complex North American supply chain. We have been proud to support its mission of operational excellence and capacity growth to best meet consumer needs both before and during a pandemic that has highlighted the importance of Port of Los Angeles as a critical trade gateway. It has been a pleasure to partner with Sean and the current management team, each of whom have done a fantastic job implementing our full potential plan, including an ambitious digitalization program and an industry-leading sustainability agenda. Today, Fenix Marine Services is one of the most efficient and environmentally friendly terminals in North America," Alex Darden, EQT Partner and Head of Infrastructure’s US Advisory Team.