France's CMA CGM Group has agreed to make a €25 million (US$29.5 million) investment in Brittany Ferries, including €10 million (US$11.8 million) in quasi-equity.
The agreement establishes a commercial partnership between CMA CGM and Brittany Ferries through the use of available cargo space on board Brittany Ferries' services to the United Kingdom, Ireland, and the Iberian Peninsula.
The partners said the transportation of goods aboard Brittany Ferries' Ro-Ro ships will help expand the CMA CGM Group's offering in the Ro-Ro sector for the Atlantic and northern coast of France to destinations in the United Kingdom.
The partnership will also help Brittany Ferries to adapt more easily to the post-Covid-19 trends in goods transportation, including the transport of unaccompanied trailers, and to offer new transport services so it can better meet the needs of its customers. Through this agreement, both companies will be able to introduce new Ro-Ro services.
