CMA CGM announced today it has finalized a debt restructuring agreement with its banks that will stabilize its financial position and ease the way to an initial public offering of the world’s third-largest ocean container carrier.
20 Dec 2012
Port operator Yildirim has acquired RotaPort, a port in Korfez, Turkey, located about 80 kilometers (about 50 miles) from Istanbul.
16 Oct 2012
The French government’s long-expected decision to invest in CMA CGM will give the French carrier access to much-needed capital funds at a time when it is trying to restructure more than $5 billion of debt with some 75 bank creditors.
16 Oct 2012
France’s state investment fund Fonds Strategique d’Investissement will subscribe to CMA CGM bonds redeemable in shares for $150 million in return for a 6 percent stake in the France-based container shipping company...
05 Oct 2012
Turkey’s Yildirim Holding has acquired a 54 percent stake in Gemport, a container terminal on the southeast coast of the Marmara Sea near the capital, Istanbul.
04 Oct 2012
CMA CGM is in advanced negotiations for a $150 million cash injection by France’s state investment fund in return for a 6 percent stake in the French ocean container carrier, according to media
21 Jun 2012
Turkey’s Yildirim Group intends to exercise its option to buy another 10 percent stake in CMA CGM, which will bring its ownership of the French liner company to 30 percent.