The CMA CGM Group announced that it has entered into exclusive discussions with the STEF Group to acquire 100% of La Méridionale, a combined freight and passenger transport shipping company in Marseille. The completion of this transaction is subject to the signing of the securities transfer agreements, after informing and consulting the employee representative bodies, and authorizations from the various competition authorities.
Through this acquisition, the CMA CGM Group wishes to continue its development in the Mediterranean, while strengthening the position of the Port of Marseille and the French maritime sector. It intends to turn around La Méridionale and restore its growth prospects. To this end, it will support its development, by creating commercial complementarities in France and internationally, particularly on the RORO service to Morocco, while preserving the employment of French seafarers on board its ships. It will also invest in the shipping company’s fleet of ships and energy transition.
With the help of a dedicated management team located in Marseille, the new shareholder will be keen to preserve the identity of La Méridionale and to strengthen the quality of service to customers on Corsica and Morocco routes, while respecting the spirit of passenger service that has made La Méridionale successful.
Since its creation, Marseille and the Mediterranean have been at the heart of CMA CGM’s history. The Group has undertaken structuring actions to contribute to the economic dynamism of the territory, strengthen its attractiveness and bring in new talent. The acquisition of La Méridionale, a link between Marseille, Corsica, and the Mediterranean, is part of this ambition.
The acquisition is in line to the CMA CGM’s growth strategy. Recently, in December 2022, The Group signed a binding agreement to acquire GCT Bayonne and New York terminals from Global Container Terminals Inc (GCT).
Source: CMA CGM Group