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Monday, 20.May.2013, 00:51 (GMT+3)

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SHIPPING NEWS » CONTAINER

Turkish Yildirim Group buys %20 of CMA CGM

Turkish Yildirim Group buys 20 per cent of the worlds third largest container company, French CMA CGM, at a cost of USD 500 million. Yildirim will get three out of ten seats on the board. The Saadé family still hold 80 per cent of the shares and the votes in the container giant, which has been struggling with debt for some time now, the company has even approached the French government for a loan.

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