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...I’ll never forget that date,” said Tanya Saadé Zeenny, Rodolphe’s elder sister who is a high-level executive at CMA CGM....
...The abandonment of the bid is a setback for CMA CGM’s efforts to develop a stronger logistics function to complement its core shipping business....
...Logistics now account for 15 per cent of CMA CGM’s core profits, compared with under 4 per cent a year earlier....
...French shipping specialist CMA CGM has agreed to buy Wincanton in a deal that values the British delivery and warehousing company’s equity at £765mn....
...CMA CGM, the French shipping group, last month agreed to buy the company for 450p a share in a recommended bid....
...Drahi’s telecoms and media group Altice announced on Friday that it had entered exclusive talks with Saadé’s maritime transport group CMA CGM and his family office over a sale that would value BFM and RMC...
...CMA CGM will keep its 9 per cent stake in Air France, but a lock-up on those shares will end in February 2025 and no longer be partly extendable until 2028....
...CMA CGM pointed out that, while it had said its offer on Monday was final, it had the right to increase it if there was a higher offer from a rival....
...However, CMA CGM said it was handling the matter on a case-by-case basis. It is holding daily meetings to chart the routes and plan....
...group CMA CGM....
...CMA CGM, the French shipping group, last month agreed to buy the company for 450p per share in a recommended bid....
...Corporate updates: Renault chief executive Luca de Meo, with Volvo CEO Martin Lundstedt and CMA CGM head Rodolphe Saadé, are due to present details of their Flexis electric vehicle joint venture outside...
...French business: Rodolphe Saadé, head of shipping group CMA CGM, has been on a €35bn deal spree that has thrust him and his family’s company into the spotlight....
...The two groups said on Tuesday they would hold exclusive negotiations, while Bolloré Group added that it had given a deadline of May 8 for CMA-CGM to finalise its offer....
...CMA CGM has already done four acquisitions of logistics companies since 2018, and also bought a minority stake in Air France in 2022 to move into air freight....
...Neither has made a formal bid yet. And in February, logistics group Wincanton left French suitor CMA CGM at the altar, preferring instead to recommend a £762mn offer from GXO....
...Total operating profits that year are forecast to reach £3bn, according to S&P Capital IQ data. Once signed up, few loyalty card members bother to unsubscribe....
...Rodolphe Saadé, owner and chair of the Marseille-based company, said the CMA CGM’s schedules were being hit because of rerouting, delays waiting for Red Sea passage and build-ups at ports....
...German company Hapag-Lloyd diverted all ships on Monday to go via the Cape of Good Hope, MSC decided on Friday to reroute some of its services and Marseille-based CMA CGM is taking similar action....
...French container shipping magnate pivots to media Rodolphe Saadé, the head of French container shipping giant CMA CGM, has long shunned the limelight at the helm of his family-owned company in Marseille...
...The other big alliance — the Ocean Alliance — between France’s CMA CGM, China’s Cosco and Taiwan’s Evergreen — controls 29.3 per cent of the fleet....
...Kristoffersen rejected the idea of sailing through the danger area with a naval escort for protection, as French container line CMA CGM has done....
...France’s CMA CGM, the world’s third-largest container shipping line, announced on February 5 that it was suspending transits of the region after missiles were launched at a ship operating one of its services...
...CMA-CGM, the Marseille-based shipping company set to transport the goods, did not respond to a request for comment. Royal Group did not provide a response for publication when approached for comment....
...Nine of the 26 attacks on vessels since November 19 have targeted the biggest, highest-profile container ships owned by the world’s three biggest lines, Maersk, MSC, and CMA CGM....
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