New hope of financial backing for CMA CGM?
Troubled ocean carrier linked with Lebanese and Turkish investment groups
A Lebanese group of investors has been touted as the latest potential stakeholder in the world’s third-largest carrier, CMA CGM.
According to French press reports, the Mikati Group, which has investments in companies in a range of sectors, is looking to take a share in the debt-laden ocean carrier.
The reports also claim a group of Turkish investors is interested in CMA CGM.
The carrier, which has debts totalling US$5.3 billion, is looking for investors to complete its financial restructuring.
Last month, Belgian billionaire financier Albert Frere entered talks with CMA CGM to acquire a stake, but negotiations broke down.
The talks with Frere followed another breakdown in talks, between CMA CGM and Qatar Holdings on a $500 million capital injection, because of conditions set by the Qatari sovereign wealth fund.
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.
According to French press reports, the Mikati Group, which has investments in companies in a range of sectors, is looking to take a share in the debt-laden ocean carrier.
The reports also claim a group of Turkish investors is interested in CMA CGM.
The carrier, which has debts totalling US$5.3 billion, is looking for investors to complete its financial restructuring.
Last month, Belgian billionaire financier Albert Frere entered talks with CMA CGM to acquire a stake, but negotiations broke down.
The talks with Frere followed another breakdown in talks, between CMA CGM and Qatar Holdings on a $500 million capital injection, because of conditions set by the Qatari sovereign wealth fund.
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.
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