CMA CGM in talks to acquire Delmas

CMA CGM in talks to acquire Delmas

   CMA CGM is talking to the diversified French industrial group Bollore to acquire its shipping activities, and both companies are holding meetings with their works councils to inform them of the talks, according to reports in the French press.

   Both companies confirmed they are holding works council meetings today, But neither would comment early today on the agenda of the meetings or on the existence of takeover talks. Public statements will be issued after the meetings by both companies today.

   Bollore, the parent company of Delmas and OT Africa Line, said at the group’s annual shareholder meeting earlier this month that it would reject any offers worth less than 600 million euros ($725 million) for its shipping arm, acquired for 250 million euros in 1991, Reuters reported.

   Bollore has reportedly been approached by three shipping lines interested in acquiring the group’s shipping companies.

   If CMA CGM acquires the Bollore shipping business, the takeover will add some 60,000 TEUs to its fleet capacity. It would boost its ranking from fifth-largest container shipping line to third-largest in the world, with a combined capacity of about 470,000 TEUs, according to data from BRS-Alphaliner.