Qatar may buy CMA CGM stake

Doha, July 7, 2010

Qatari Holdings, the investment arm of the Qatar Investment Authority, is expected to acquire stake of up to 49 per cent in CMA CGM, the third-largest container shipping line in the world, a report said.

CMA CGM had earlier said that it needed only a few weeks to complete a deal for capital injection, according to the Financial Times report.

Though CMA CGM didnot reveal which investors were still participating in the talks, reports indicate that the frontrunner was Qatari Holdings.

CMA CGM has debt to the tune of $5 billion, the report said.

Tags: Maritime | shipping | Qatar Investment Authority | CMA CGM | Qatari Holdings |