CMA CGM and Yildirim — time to part company?

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If you want the best analysis on what is going on with CMA CGM’s minority shareholder, Turkey’s Yildirim Group, led by the charismatic Robert Yildirim, Lloyd’s List has temporarily removed its paywall for this article by Janet Porter on the likely exit of Yildirim from its five-year investment in the French line. Having injected some $1.1bn in five-year bonds, and gained a 24% stake Mr Yildirim, a growing port operator, has made a decent return and clearly decided it’s time to focus on his core business of ports and terminals. What happens next at the French container shipping line will be very interesting, especially with the future leadership of the group now very much occupying senior minds. “Some outsiders think Mr Yildirim’s guiding hand has had a very positive influence on CMA CGM by discouraging excessive newbuilding activity.”