CMA CGM has agreed to acquire the GCT Bayonne and New York terminals in the US from Global Container Terminals Inc (GCT).

The French liner giant said the two terminals are a “key entry point” serving the north-eastern US supply chain areas and represents CMA CGM’s largest gateway on the east and Gulf coasts of the US. Financial terms were not disclosed.

GCT’s owners Ontario Teachers’ Pension Plan, IFM Investors and British Columbia Investment Management Corp had been exploring a sale of the two container terminals, which could fetch around $3bn, Bloomberg reported in October 2022.