Yildirim plans to sell stake in shipper CMA CGM

Dünya Executive - - OVERVIEW -

Yildirim Holding is seeking buyers for its stake in the world’s third-biggest container shipping company, as the family-owned Turkish company presses ahead with a plan to acquire Ports America Holdings, a U.S. maritime-terminal operator. Yildirim mandated China CITIC Bank Corp. to find investors from Asia or the Persian Gulf for its 24 percent stake in CMA CGM, Chairman Yuksel Yildirim said in an interview on Monday. Investment banks have valued the holding, which Yildirim bought for $600 million over a period spanning 2010 and 2011, at $2.5 billion to $3 billion, based on recent deals in the industry, he said. (Bloomberg)

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