CMA CGM in talks with Belgian financier
Debt-laden line still seeking to complete financial restructure
CMA CGM is in talks with Belgian billionaire financier Albert Frere to acquire a stake in the debt-laden carrier, according to French media reports.
The carrier, which has debts totalling US$5.3 billion, is looking for investors to complete its financial restructuring.
The French state-owned Strategic Investment Fund has confirmed it is in talks with NPC, Frere’s holding company, to invest with him in CMA CGM, according to Reuters.
“We confirm that at the request of [CMA CGM owner] the Saadé family, we are studying the conditions of a co-investment in CMA-CGM,” said a spokesman for the French sovereign wealth fund.
The talks with Frere follow the recent breakdown of negotiations between CMA CGM and Qatar Holdings over conditions set by the Qatari sovereign wealth fund for a $500 million capital injection.
Negotiations with Los Angeles-based investment fund Colony Capital also failed. But it said it was still prepared to invest in CMA CGM with Qatar Holding, according to another report.
The carrier, which has debts totalling US$5.3 billion, is looking for investors to complete its financial restructuring.
The French state-owned Strategic Investment Fund has confirmed it is in talks with NPC, Frere’s holding company, to invest with him in CMA CGM, according to Reuters.
“We confirm that at the request of [CMA CGM owner] the Saadé family, we are studying the conditions of a co-investment in CMA-CGM,” said a spokesman for the French sovereign wealth fund.
The talks with Frere follow the recent breakdown of negotiations between CMA CGM and Qatar Holdings over conditions set by the Qatari sovereign wealth fund for a $500 million capital injection.
Negotiations with Los Angeles-based investment fund Colony Capital also failed. But it said it was still prepared to invest in CMA CGM with Qatar Holding, according to another report.
Click here to email the editor and comment on this story
Receive our FREE news email bulletin click here
