CMA CGM has completed the acquisition of a 12% stake in compatriot company Brittany Ferries.

The French carrier has converted €25m ($26m) in financial support it provided in 2021 into shares in the largest French-flag ferry company.

The liner company provided support during the Covid-19 pandemic when the shortsea operator struggled to recover from its loss of passenger traffic.

“By becoming a shareholder, CMA CGM Group is renewing its confidence in Brittany Ferries,” the Saade-family-led company stated.