Compagnie Maritime d’Affretement and Compagnie Generale Maritime, the
two French shipping lines controlled by the Saade family, will complete
their merger on June 21.
The long-delayed merger was suspended last year because of legal
proceedings between family shareholders.
The merged company will operate as CMA-CGM, the name already used
informally by the French group.
The merger will be back-dated to Jan. 1, 1999, a spokesman for the
company said.
CMA-CGM TO COMPLETE MERGER IN JUNE
CMA-CGM TO COMPLETE MERGER IN JUNE
