French sovereign investment fund Fonds Strategique d'Investissement (FSI) is considering a €150m (US$195m) investment in CMA CGM to balance against investment in the shipping line by Turkish company Yildirim.
FSI and CMA CGM are expected to settle a deal within three weeks, according to Le Journal du Dimanche.
Le Journal reported the investment was intended as a “counterweight” to Yildirim’s stake in CMA CGM. Yildirim acquired a 20 per cent stake in the French shipper last year for €380m (US$500m), and increased its stake to 30 per cent in January with the injection of a further €190m (US$250m).
CMA CGM is in the process of restructuring, after flipping from a US$1.6bn profit in 2010 to a US$30m net loss in 2011.
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