CMA CGM has announced that it has acquired a 12% minority stake in the French ferry company Brittany Ferries.
According to French media reports, the big carrier intends to convert the EUR 25 million loan it granted to Brittany Ferries into shares. The shipping group had granted the loan to the shipping company to support it getting back on track after the pandemic-induced crisis.
CMA CGM said that last month it had begun exclusive negotiations to buy the La Méridionale shipping company. CMA CGM, which recorded a 24.9-billion-dollar profit in 2022, is using its financial resources to invest outside the maritime sector as well.
Brittany Ferries operates nine ro-ro/passenger ships and one ro-ro cargo vessel on services from France to Ireland and the UK and from the UK to Spain.
Translation by Giles Foster
