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DSK Legal assisted and advised CMA CGM S.A. (“CMA CGM”), the world’s third-largest container shipping group, in relation to the Indian law components of its strategic partnership with Stonepeak Partners LP, a leading alternative investment firm specializing in infrastructure and real assets.
Under the terms of the agreement, Stonepeak acquired a 25% (twenty-five per cent) minority stake in United Ports LLC for USD 2.4 billion. The deal further includes a commitment for up to USD 3.6 billion in additional investment, making it one of the most significant infrastructure transactions in the maritime sector.
The transaction establishes United Ports LLC to consolidate 10 (ten) strategically located port terminals across 6 (six) countries, viz. Los Angeles Fenix Marine Services (United States), Port Liberty terminals in New York and Bayonne (United States), Santos terminals (Brazil), CSP Valencia and CSP Bilbao (Spain), Terminal Maritima del Guadalquivir (Spain), TTI Algeciras (Spain), Nhava Sheva Freeport Terminal (India), CMA CGM Kaohsiung Terminal (Taiwan), and Gemalink in Cai Mep (Vietnam). In India, the transaction includes the Nhava Sheva Freeport Terminal (“NSFT”) at Jawaharlal Nehru Port, Mumbai, which is India’s first deep-draft, automated container terminal, significantly enhancing the country’s container handling capacity, efficiency, and global trade connectivity.
DSK Legal advised CMA CGM S.A. on the Indian law aspects of the transaction, including: (i) conducting legal due diligence; (ii) advising on the implications of global consolidation for Indian operations and corporate structures; (iii) advising on key government and security approvals and clearances; and (iv) advising on rights and obligations under the relevant project and financing agreements.
Deal value: USD 6 Bn
The team at DSK Legal, representing CMA CGM S.A., comprised of Mr. Manhar Gulani (Principal Associate), Ms. Mala Mehto (Principal Associate), Mr. Abhikalpa Ghosh (Senior Associate), Mr. Vedant Sinha (Associate), and Mr. Brijesh Ranjan Sahoo (Associate).
Mr. Avinash Kumar Khard (Partner) and Mr. Harvinder Singh (Partner) acted as the lead engagement partners, and Mr. Anjan Dasgupta (Partner) acted as the relationship partner for CMA CGM S.A. and provided strategic inputs on the transaction.
Other advisor(s) assisting on the Transaction included Willkie Farr & Gallagher LLP.