Within The Press

Acquisitions

2006 saw the integration of Delmas. The friendly bid recently made for Taiwan’s Cheng Lie Navigation and the acquisition of the Moroccan company COMANAV in 2007 reaffirmed CMA CGM’s strategic commitment to strengthening its global portfolio through targeted acquisitions.

CMA CGM aims to double CNC intra-Asia box volumes

"French line CMA CGM is stamping its distinctive style on recently acquired Cheng Lie Navigation Co as it embarks on a high-speed expansion programme. (…) Jacques Saadé has recruited the highly respected and experienced Igal Dafni, former head of Zim affiliate Gold Star Line in Hong Kong, to head the revival of CNC."
janet Porter, Lloyds List, 30 Jul 2007
CMA CGM outlines strategy for CNC

"Marseilles-based CMA CGM has revealed more details about its strategic plan for Cheng Lie Navigation (CNC), which it acquired earlier this year. In an exclusive interview with Containerisation International magazine, Igal Dafni, the recently appointed president and ceo of CNC, (…)"
John Fossey, CI Online, 29 May 2007
French take CoMaNav

"(…) CMA CGM's victory marks the conclusion to a privatisation process that was launched earlier this year by the Moroccan government. The consortium is understood to include Spanish ferry company Balearia, which is expected to take over CoMaNav's passenger-ferry operations (…)"
Paul Berrill, Trade Winds, 05 Apr 2007
CMA CGM wins Morocco’s Comanav

"(…) The French group is to pay barely more than the Dirhams2.2bn minimum price set for the company by the Moroccan government. The company indicated that it is not alone in the operation but the head of a consortium (…)"
Andrew Spurrier, Lloyds List, 02 Apr 2007
CMA CGM consortium to buy Morocco's Comanav

"(…) Comanav has three main sectors of business: transporting passengers and freight in the Mediterranean region; managing port operations in Somaport in Casablanca; and a 20 percent stake in Tanger Med, Morocco's second largest container terminal (…)"This company is of great interest to CMA CGM's, as it will help strengthen our position in Morocco both in terms of cargo transport and port operations", CMA CGM said in a statement."
News, American Shipper, 30 Mar 2007
Cheng Lie says yes

"French boxship giant CMA CGM has made a $159m offer for Taiwanese carrier Cheng Lie Navigation Co (CNC Line) and may bring in a renowned liner hand to head the company. CMA CGM says it will pay TWD 21.89 for each of Cheng Lie's 240 million shares, valuing the company at TWD 5.25bn, ($159.1m) in an advertisement placed in Taiwan's Commercial Times newspaper. It wants 59% of CNC Line shareholders to sell their shares by 30 March."
Gary Dixon & Paul Berrill, Trade Winds, 02 Mar 2007
CMA CGM bids for Taiwan’s CNC

"(…) This acquisition would enlarge our scope of business into the intra-Asia trading area," said Farid Salem, CMA CGM’s chief executive vice president. "The combination of CNC’s regional strength and CMA CGM’s strong global position would allow the group to offer a complete range of services to its clients. Together there will be ample opportunities to develop new routes, making use of attractive fleet and market synergies. In that process, we of course look forward to continue the cooperation with CNC’s current trading partners. (…)"
News, American Shipper, 01 Mar 2007
CMA CGM to acquire Taiwan’s CNC Lines in $200m Asia move

"FRENCH container line CMA CGM will take over Taiwan’s Cheng Lie Navigation (CNC Lines) in a deal that is expected to strengthen the Taiwanese carrier and increase its share of intra-Asian business"
Keith Wallis, Lloyds List, 01 Mar 2007
CMA CGM makes bid for Cheng Lie Navigation

"CMA CGM has announced a tender for Taiwanese operator Cheng Lie navigation, citing a desire to improve its intra-Asian coverage, just as it uses the ANL brand in Oceania and Delmas in Africa. (…)"
News, CI Online, 28 Feb 2007
Delmas buy widens scope for CMA CGM

"(…) Adding 49 ships to its fleet and increasing stock capacity by 57,000 teu, the acquisition of French liner company Delmas in January by CMA CGM is proving a "very good fit", opening up an area where before the company had very limited presence. (…) CMA CGM regional director Peter Young says "Our acquisitions generally add services in areas where we have not previously been in the market" (…)"
News, Lloyds List, 24 Apr 2006