Jacques Saade’s CMA CGM is on the verge of securing a huge cash injection from a large Turkish industrial group to ease its financial woes, a French media report claims.
Istanbul-based Yildirim group is lining up a $500m spend to take a 20% cut in the French liner giant, daily newspaper Les Echos reported on Thursday.
The Marseilles-based owner could even seal the deal by the end of this week with cash swapping hands at the end of November, the newspaper claimed without identifying where it got the information.
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