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CMA CGM will stop negotiations with Albert Frere
CMA CGM regarding a possible saving by the Belgian financier have been stopped. This is according to sources close to the case. The discussions were stopped because of the rights required by Fr?re as the future new shareholder. It is not clear whether the discussions are definitely off
According to a spokesman of CMA CGM, one of the largest container
companies in the world, the group is having discussions with a number
of investors in order to finalise an arrangement quickly. Trade union
sources mentioned at the end of July, that Fr?re, together with a
French government fund would invest 500 million dollar in the shipowner
and in this way would control 30 percent of the capital.
CMA CGM
suffered severely as a result of the economic crisis. However, the
first quarter showed a profit again thanks to the recovery of the world
trade.
Source: Freshplaza
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