CMA CGM completes acquisition of Sudcargos
CMA CGM has bought French state-owned ferry operator SNCM’s 50 percent share in specialist Mediterranean/North Africa shipping company Sudcargos for an undisclosed amount.
Earlier this month, CMA CGM acquired a 50 percent stake in fellow Marseilles-based Sudcargos when it bought the shipping activities of the Bollore group.
In 2004, Sudcargos’ revenue was euros 60 million ($73 million). It has about 170 employees and operates eight roll-on/roll-off cargo and container ships which handled 48,000 TEUs last year.
CMA CGM said the deal is subject to the permission of the relevant competition authorities.