CMA AND CGM MISS MERGER TARGET DATE

CMA AND CGM MISS MERGER TARGET DATE

CMA AND CGM MISS MERGER TARGET DATE

    Compagnie Maritime d’Affretement and Compagnie Generale Maritime,
the two operating companies of the French group CMA-CGM, have missed the June 21 target
date for their merger.
    A spokesman for CGM said Thursday that the merger with CMA has not
still been completed, but would not comment on the reasons for the delay.
    The merger had already been postponed last year because of court
actions by Johnny Saade, a minority shareholder of CMA.