CMA CGM establishes financial committee
| French shipping line CMA CGM encounters crisis with financial plan The French container shipping company CMA CGM has now reached an agreement on the establishment of a financial committee. It shall be comprised of French, European and international banks including certain major financial institutions from Asia and Korea. Their task is to propose suitable measures to address the Group’s short and medium term financing requirements. The strategy will have a special view to strengthening CMA CGM’s capital structure. Apart from re-negociation and in some cases the cancellation of certain ship deliveries CMA CGM will continue with the initiatives started during the course of 2009, as the Management confirmed in a press release. Regular working sessions of the committee are already scheduled. CMA CGM is aiming to reach an all-encompassing agreement with the help of the committee by the middle of November. Quelle: Österreichische Verkehrszeitung |