CMA CGM Sells 6 Percent Stake to FSI

CMA CGM Sells 6 Percent Stake to FSI

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, as specified in a Memorandum of Agreement signed by the companies today.

Yildirim Group, which already owns 20 percent of CMA CGM under an existing agreement, will also subscribe to bonds redeemable in shares for $100 million, giving the Turkey-based company an additional 4 percent stake.

JOC Members, click here to read why the FIS investment is good news for shippers.

This agreement with FSI and continued support from Yildirim will accelerate CMA CGM’s strategy to prepare for an IPO in coming years, CMA CGM Executive Officer Rodolphe Saade said.