ports

CMA CGM Eyes Up to 49% Stake in France's Largest Rail Freight Operator

CMA CGM is positioned as the frontrunner to acquire up to 49 percent of Rail Logistics Europe, France's leading rail freight company and a subsidiary holding of state railway SNCF. The divestiture stems from European Commission requirements following an investigation into alleged illegal state aid received by the former Fret SNCF. RLE operates multiple freight subsidiaries including Hexafret, Captrain France, VIIA, Naviland Cargo, Forwardis and Technis. Investment banks Lazard and Indosuez Corporate Advisory have valued the stake at approximately €800 million. Competing bidders include Czech entrepreneur Daniel Kretinsky, whose holdings encompass parcel operator GLS and Royal Mail; German logistics firm Rhenus; and an unidentified private equity consortium. SNCF declined to comment on the regulated sales process. The acquisition would expand CMA CGM's European rail freight capabilities.