December 7, 2022
On December 7, Willkie client CMA CGM Group, a global player in sea, land, air and logistics solutions, announced that it signed a binding agreement to acquire the GCT Bayonne and New York terminals, currently held by Global Container Terminals Inc. (GCT).
CMA CGM plans to accelerate investments in the development of the terminals, with an objective to increase the combined capacity by up to 80% in the coming years. This major acquisition is expected to enable CMA CGM to support U.S. East Coast supply chain growth and improve efficiency to and from the world.
With this acquisition, CMA CGM is bolstering its position as a leading global port terminal operator. It currently has investments in 52 port terminals in 28 countries, through CMA Terminals and its Terminal Link joint venture with China Merchants Port.
Willkie previously represented CMA GGM in numerous transactions, including its recent acquisitions of Fenix Marine Services terminal in the Port of Los Angeles and of Ingram Micro’s Commerce & Lifecycle Services business.
The Willkie team was led by partners Daniel Hurstel, Annette Péron, Archie Fallon and Jay Hughes, and included partner Robert Jacobson and associates Victor Cann, Monica Diddell and Hayden Kursh.
