The end of the CMA-CGM saga is now very close. According to WanSquare's information, the family, which is still negotiating with the two candidates - Qatari Holdings and Colony Capital - should make its decision very quickly, and probably between now and Thursday.

For its part, the FSI will ally itself with whichever candidate is chosen. According to a number of sources, if Colony Capital's bid is accepted, the French sovereign fund could inject a sum of nearly 250 million dollars.

In reality, the data in the CMA-CGM dossier has evolved considerably since the last negotiations with the banks in December 2009. The Marseilles ship-owner has recovered a bit - and gained room for manoeuvre in the negotiations - because it is currently generating 200 million dollars of profit a month. Its latest guidance, which envisaged EBITDA of 1.8 billion euros in 2010, could therefore be exceeded, thus reducing its indebtedness ratio.