CMA CGM in Advanced Talks to Acquire La Méridionale, Expanding Mediterranean Routes

The French shipowner based in Marseille is about to take over La Méridionale and the negotiations are very advanced with the carrier Stef, the current owner of the company that operates passenger and freight links, a source close to the matter said on Wednesday, specifying that the Social and Economic Committee (CSE) should soon launch the information-consultation procedure at La Méridionale, which has 600 employees.

The acquisition of La Méridionale, whose boats are moored at the foot of the CMA-CGM tower in Marseille, would mark the return of the shipowner to maritime passenger transport since the sale of Ponant in 2015. At the end of 2022, La Méridionale renewed its public service delegation on its links until 2029 and its owner Stef appointed a new CEO, Guillaume de Feydeau, in January, tasked with "building a new strategic plan, particularly for the lines to Morocco which remained below expectations".

The operation is in line with the strategy pursued by the shipowner to diversify its revenues. Last April, the Marseille group acquired Gefco, the French automotive carrier, after the withdrawal of its Russian shareholder. It also took over the French Colis Privé at the beginning of the year, to invest in logistics. The shipowner has also recently entered the capital of the NetZero startup and Eutelsat, the satellite operator, and has provided 25 million euros to Brittany Ferries.