EQT Infrastructure III sell Fenix Marine Services to CMA CGM
EQT has announced that the EQT Infrastructure III fund (EQT Infrastructure) has agreed to sell its stake in Fenix Marine Services to CMA CGM (CMA) for an enterprise value of US$2.3 billion.
Fenix Marine Services is one of the largest terminals in the Port of Los Angeles and provides container handling services to shipping lines. The company handles approximately 2.3 million TEUs (unit of cargo capacity) annually and employs more than 145 people. Fenix Marine Services converted its entire equipment fleet to renewable diesel, eliminating over ten million pounds of greenhouse gases, and is testing low-carbon hydrogen fuel cell technology with partners including Toyota.
Rothschild & Co acted as exclusive financial advisor and Allen & Overy LLP acted as legal advisor to EQT Infrastructure.
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