Cash-rich, acquisitive CMA CGM is closing in on a takeover of fellow Marseille shipowner La Méridionale, a struggling ropax operator belonging to STEF Group with routes to Corsica, Sardinia and Morocco.
La Méridionale, which has 600 employees, has three ships and is the latest acquisition target by Rodolphe Saade-led CMA CGM, which has been on a buying binge during container shipping’s boom years. Acquisitions have included ports, ships, planes, logistics companies as well as media businesses.
