CMA CGM has announced it has signed a Memorandum of Understanding (MoU) to acquire a 30% stake in Groupe Dubreuil Aéro, the parent of Air Caraibes Atlantique, French Bee, and Air Caraibes.
This trust-based partnership established between the two-family groups enables the combining of their respective entrepreneurial experience and the consolidating of their key positions in high-potential products and services, and is based on a common ambition to continue to develop their market.
The CMA CGM Group investment will result from the combination of a subscription to a capital increase for an amount of €50m and the acquisition of shares. This operation was approved by Groupe Dubreuil Aéro employee representative bodies and is still subject to the approval of the competition authorities in France, French Polynesia, and Austria as well as authorisation from the French Ministry of Economy and Finances.
At the end of this procedure, CMA CGM will own 30% of Groupe Dubreuil Aéro and will designate two representatives at Groupe Dubreuil Aéro Board of Directors.
The CMA CGM Group will contribute to the development of Groupe Dubreuil Aéro cargo activity, notably through Hi Line Cargo, a subsidiary tasked with commercial distribution of freight on Air Caraïbes and French Bee’s aircrafts. The two companies boast modern fleets totalling 14 long-haul aircrafts including 8 Airbus A350s, a modern and particularly efficient asset capable of transporting, in addition to its passengers and their luggage, between 15 and 25 tons of freight.
Since the reopening of Orly on June 26, Air Caraïbes and French Bee have refocused their routes on overseas territories. The months of July and August also allowed both airlines to consolidate their respective market shares in the French overseas territories.
Groupe Dubreuil Aéro and the CMA CGM Group are both already present throughout the overseas territories. Through their cooperation, they aim at supporting and enhancing economic development in Guadeloupe, Martinique, Guyana, Reunion, and Polynesia. The synergy between the CMA CGM Group and Groupe Dubreuil Aéro will notably enable the CMA CGM Group to offer its clients services that are complementary to ocean freight, while keeping a hold on the transport chain in markets served by both groups.
Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group said: “I am very pleased with this agreement. Our two-family groups share the same values and entrepreneurial spirit. The acquisition of this stake will enable the CMA CGM Group to strengthen its position in airfreight. We will bring to Groupe Dubreuil Aéro all our expertise in the transport of goods in ultra-marine territories.”
Source: CMA CGM
