Cleary Gottlieb represented the French Strategic Investment Fund in relation with the subscription of $150 million bonds redeemable in shares to be issued by CMA CGM and representing on a fully diluted basis 6% of CMA CGM’s capital. The documentation was signed on February 6 and the transaction is expected to close when the required antitrust approvals have been obtained.
CMA CGM is the world’s third largest container shipping group and number one in France. CMA CGM is headquartered in Marseille, France, and operates out of over 650 offices and agencies in more than 150 countries. With regular services on over 170 shipping lines and 17,000 staff members worldwide, the Group manages a dense network capable of meeting the expectations of its customers all over the world.