Financial CMA CGM makes sure the contribution of the FSI and an ulterior support from the Yildirim Turk



CMA CGM, as expected and previewed, will make sure the support financial of the French State. The shipowning group of Marseilles has in fact undersigned a memorandum of understanding with the Fonds Stratégique d' Investissement (FSI), participated public holding company with 51% from Caisse DES Dépôts and with 49% from the State, based on which FSI will acquire 6% of the capital stock of CMA CGM.

The understanding previews that FSI signs repayable obligations in actions for an amount of 150 million dollars, transaction that it will straight give to FSI to a quota 6% of the capital of CMA CGM to the moment of the conversion. According to the forecasts, the agreement, that it with banks previews the concomitant attainment of an understanding on the restructure plan financial institution of the shipowning group, will be completed and confirmed in the next weeks.

"We have defined with the shareholders of CMA CGM - the director of FSI, Thomas Devedjian has explained - the bases of an agreement that we hope to carry as soon as possible to term. This agreement would afford to FSI to support the several projects of the French group, that it is one of the more important in its field. CMA CGM participates to the expansion of the French economy in the world being which placed in way a lot important on the great marine routes. It is also one of the main actors of the dynamism of the city of Marseilles".

Besides that of FSI, financial the shipowning group it has obtained also a new support by the Turkish group Yildirim, than currently it stops 20% of the capital of CMA CGM: in the within of the agreements in being with the French shipowning group, in fact, Yildirim will sign repayable obligations in actions for an amount of 100 million dollars that it will straight give to the Turkish group to an ulterior quota 4% of CMA CGM to the moment of the conversion.

"We are very pleased - it has declared the president and managing director of CMA CGM, Jacques R. Saade - to have reached an agreement with FSI and of the renewed support offered from the Yildirim group. This agreement is an important step for our group and demonstrates the level of confidence of FSI and Yildirim in its future. This coincides with the return of our group to the profit in according to trimester ( on September 10, 2012, ndr) and with the expectations of still better operating performances in the third trimester, that they lead to a profit for the entire year".

"This agreement - it has added the general manager of the shipowning group, Rodolphe Saade - will contribute to strengthen the patrimonial situation of the group and it will afford us to accelerate the performance of the strategy of CMA CGM in order to prepare an initial public offer for the next year. I am pleased that FSI invests in our group and promotes its future development".

CMA CGM altogether gives job to 18.000 people, of which 4,300 in France.