Peter T. Leach, Senior Editor | Sep 04, 2012 9:45AM EDT
CMA CGM completed the sale of luxury cruise-line operator La Compagnie du Ponant to the private equity firm Bridgepoint as part of the group’s restructuring to refocus on its strategic businesses.
The terms of the deal were not disclosed.
The French carrier has been selling some assets to reduce bank debt and refocus on its container and port-operating businesses.
Created in 1988 and acquired by CMA CGM in 2004, La Compagnie du Ponant is the only French cruise operator.
It is positioned in the premium segment, with three ships and 580 employees, including 500 seamen. In 2011, it carried 20,000 passengers and reported $100 million in revenue. A new vessel will join the fleet in June 2013.
Contact Peter T. Leach at pleach@joc.com. Follow him on Twitter @petertleach.
