CMA CGM to sell 20pc of itself to Turks for US$500 million

MARSEILLES` CMA CGM, the third largest carrier in the world, is close to accepting the deal of selling 20 per cent of its shares to Turkish group Yildirim for US$500 million.

If CMA CGM agrees the offered term, it will receive payment at the end of November, said French financial daily Les Echos, and the French government`s strategic investment fund, FSI, is expected to invest in CMA CGM after signing the agreement, according to seatradeasia-online.com.


This French-based shipping line has suffered from considerable debt, which is said amounting to $5 billion, after the global recession, and been keen to look for new investors since, according to London`s International Freighting Weekly.