Saturday, 3 April 2010
Qatar fund ready to invest in French shipping group: report
The Gulf emirate of Qatar is offering to invest one billion dollars in France's heavily-indebted CMA CGM, the world's third-biggest shipping group, a report said on Friday.
The Qatar Investment Authority (QIA), which manages investments for the gas-rich nation, has offered the equivalent of 740 million euros in the form of loan guarantees, French business magazine La Lettre de l'Expansion reported.
"CMA is in discussion with the Qatar fund," a source close to the matter told AFP, without providing more details. An agreement could be reached by the northern hemisphere summer.
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