The French shipping group CMA CGM has signed an agreement with the shareholders of the Lebanese Fattal Group to acquire the entire capital of the Beirut-based company, which is active in the distribution and marketing of international brands in the Middle East East and North Africa. According to forecasts, the transaction will be completed by the third quarter of this year.

"This acquisition - commented the president and CEO of the French group, Rodolphe Saadé - represents a key milestone in our ambition to become a global leader in logistics and logistics solutions. end-to-end supply chain. By integrating the robust platform distribution of Fattal, we expand our capabilities to downstream, bringing us closer to end markets and consumers. Together, We will use our respective strengths to drive the growth, consolidate our presence in the rapidly growing MENA markets and deliver greater value to our customers and partners. This transaction also reflects our continued confidence in the Lebanon and our commitment to sustain its development for a long time term'.

The Fattal Group was founded in 1897 by Khalil Fares Fattal and since then the company has always been owned of the family.