Published on 23 July 2013

Why CMA CGM shipping group scuttles its partners

Why CMA CGM shipping group scuttles its partners

The world's third-ranking shipping concern, CMA CGM, has scuttled its entire North African network. In Algeria as in Tunisia, the Marseilles-based group has suddenly broken off its partnerships even if that means it could face legal action. The boss of CMA CGM, the hard-driving Jacques Saade, has a single goal in mind: to ensure full control of all of his local subsidiaries as a prelude to floating his group on the stock exchange. But in choosing to act abrasively against his former allies, all of whom are well established locally, Saade is running the risk of turning them strongly against him.

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