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CMA CGM has a new Turkish partner
France
Wednesday 01 December 2010
FJ
CMA CGM, third shipowner in the world behind the Danish Maersk and the Italian MSC, brought Yildirim to its capital.
CMA CGM, third shipowner in the world, brought the Turkish Yildirim which brings 500 million U.S. dollars and takes 20% stake.
Yildim group, present in the oil shipping will invest 500 million U.S dollars and takes 20% stake in CMA CGM.
The Turkish company will have three representatives on the board of the group out of ten, but the family stay the major shareholder.
Comments by the Turkish group: "We will bring our expertise in materials and share our knowledge of markets and help them increase their market share."
"Turkey is an important growth area for the group, but my intention is to invest more in ports around the world, like China, Latin America and West Africa, where CMA could want take hold. "
Source: Challenges
