Yildirim Acquires 20% of CMA CGM for $500 Million

CMA CGM SA, the French shipping business reorganizing about $5 billion of debt, said it will receive an investment of $500 million from Turkish family-owned company Yildirim in return for a 20 percent stake. The accord means CMA CGM, the third-largest container shipper, is nearing an agreement with creditors, Deputy Chief Executive Officer Rodolphe Saade said today during a conference call. “We’ve more or less agreed.”