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Sovereign Wealth Funds Briefing - Categorized | Investment

CMA CGM said to seek equity investment from French SWF

Posted on 05 October 2009

From Bloomberg: CMA CGM SA, the third-biggest container-shipping operator, is courting equity investors, including France’s FSI sovereign-wealth fund, as it seeks to reduce $5.6 billion of debt, according to three people briefed on the company’s plan.

CMA CGM used more than $1.2 billion in cash in the first half, the majority on ship purchases, reducing its cash reserves to $599 million as of June 30, according to two of the people, who were briefed on a conference call Oct. 1 and asked not to be identified because the call was confidential………………Full Article: Source


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