French shipping giant CMA CGM Group is converting its financial support for Brittany Ferries into an equity position…

French shipping giant CMA CGM Group is converting its financial support for Brittany Ferries into an equity position. The company operates between France, the UK, Ireland, and Spain. CMA CGM provided €25 million to Brittany Ferries in September 2021 to support the company’s post-COVID-19 recovery, through €10 million in convertible equity and a €15 million loan. CMA CGM said at the time the partnership would “unlock synergies,” including the cross-channel freight business.