CMA CGM completes sale of Compagnie du Ponant to Bridgepoint

CMA CGM Group, through its parent company Merit, recently announced that it has completed the sale of La Compagnie du Ponant to Bridgepoint, as part of the Group’s commitment to refocusing on its strategic businesses.

Created in 1988 and acquired by CMA CGM in 2004, La Compagnie du Ponant is the only French cruise operator. It is positioned in the premium segment, with three ships and 580 employees (of which 500 are seamen).

In 2011, it carried 20,000 passengers and reported ?80 million in revenue. A new vessel will join the fleet in June 2013.

Backed by its current teams and its successfully developed niche positioning, La Compagnie du Ponant plans to pursue its growth and to take its international expansion to a new level through a new business plan, while retaining its existing identity, values and people.

The current management team will remain a part of the company’s new phase .

In Europe’s French-speaking markets, La Compagnie du Ponant offers polar cruises in the Antarctic and Arctic, thanks to the size and features of its yachts especially designed for these regions.

These market segments are not only less sensitive to economic fluctuations, they are also seeing steady, significant growth in Europe and the United States. < Korea Shipping Gazette >