PHOTO GEFCO

UPDATED TO INCLUDE GEFCO COMMENT

CMA CGM is said to be poised to acquire French automotive and industrial logistics firm Gefco, currently 75%-owned by Russian Railways (RR).

The Russian state utility has been on the EU and US trade sanctions lists since late-February following Russia’s invasion of Ukraine.

With a presidential election around the corner, the French government has been heavily involved in brokering a deal, its priority is to keep the company in French hands and anchored to a strong financial partner.

A ...

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