ShippingWatch

CMA CGM much closer to IPO

The French company CMA CGM is in the process of trimming its business for a stock listing. A financial restructuring has fallen into place and extra money has been invested in the company, which recently strengthened its financial stability by divesting 49 percent of Terminal Link.

The world’s third largest container company CMA CGM has moved considerably closer to an initial public offering. The company has completed the financial restructuring process which it commenced a year ago.

“The finalization of the debt restructuring combined with new equity injection from FSI and Yildirim Group and the sale of 49% of Terminal Link will allow CMA CGM to operate with the required financial flexibility and constitutes key milestones before contemplating an IPO,” wrote Rodolphe Saadé, CMA CGM’s Executive Officer in a press release sent to ShippingWatch on Tuesday morning.

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