CMA CGM COMPLETES MERGER
Compagnie Maritime d’Affretement and Compagnie Generale Maritime, the two
French shipping companies, have formally merged into a single company, CMA CGM S.A.
The long-delayed merger, which had been postponed because of
disagreements between shareholders, was approved Monday at the companies’ extraordinary
general meetings.
CMA and CGM have operated virtually as one commercial entity since November
1996, when CMA acquired CGM after its privatization by the French state.
The commercial name of the company will be "CMA CGM The French
Line," the company said.