CMA CGM Group has signed a memorandum of understanding for the acquisition of a 30% stake in Groupe Dubreuil Aéro.
While the acquisition has received approval from Groupe Dubreuil Aéro employee representative bodies, it has yet to receive approval from the competition authorities in France, French Polynesia and Austria.
Rodolphe Saadé, chairman and chief executive officer,CMA CGM Group commented:“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.”
Jean-Paul Dubreuil, chairman of Groupe Dubreuil Aéro, added:”I am delighted that the CMA CGM Group has acquired a stake in our capital, which gives us the opportunity not only to strengthen the Group’s equity capital with the support of a very fine French family company, but also to look forward more confidently to the turbulent period that the air transport sector is going through, by preparing for the rebound and future growth of the division.”