CMA CGM to list shares in Paris by end-2014

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Reuters reports that French shipping line CMA CGM plans to partially list on the Parisian stock exchange. The group has been struggling with cashflow issues since the recession bit into container shipping and the subsequent freight rate turmoil, and led the company’s owner, the Saade family, into seeking new investors, which ultimately saw Turkey’s Yildirim Group ploughing $500m into the line. But by itself that was not enough, and now CMA CGM has outlined plans to turn to the stock ...