Turkey's Yildirim Holding plans IPO in CMA CGM stake in 201
"Yildirim Holding AS, a Turkish container port operator, plans to offer shares from its stake in French shipping company CMA CGM SA in 2014 at stock exhanges in Hong Kong or New York, chairman Yuksel Yildirim said.
Yildirim Holding is in talks with investment banks to prepare for the initial public offering of shares in CMA CGM, chairman Yildirim said at a conference in Istanbul today.
Yildirim will complete an increase in its CMA CGM stake to 30 per cent from 20 per cent this year, he said.
Yildirim raised its stake in CMA CGM to 30 per cent after the French company exercised an option to seek a further $250 million in cash from its Turkish shareholder, Wansquare reported March 8."