CMA CGM buys into French airline
Marseille-headquartered CMA CGM continues to diversify from its liner origins under the leadership of Rodolphe Saade.
The company revealed yesterday it is buying a 30% stake in French airline company Groupe Dubreuil Aero. CMA CGM will acquire the EUR70m stake via a capital increase and acquisition of ordinary shares and will obtain two seats on the board of Dubreuil Aero.
Dubreuil Aero owns the Air Caraibes and French Bee lines, which operate primarily between mainland France and overseas French territories.
“The acquisition of this stake will enable the CMA CGM Group to strengthen its position in air freight,” Saade said in a statement.
Last year, CMA CGM completed its acquisition of CEVA Logistics with the French company keen to bolster revenues from air freight.
Source Splash247 24th September 2020