In 2021 and the first half of 2022, major liner company CMA CGM was both a significant charterer and significant shareholder in container lessor Global Ship Lease (GSL).
Apparently that changed in July and Aug 2022. CMA CGM apparently sold it GSL shares, and a significant acquirer was Goldman Sachs (GS). But, it seems like GS has gotten skittish and has slashed its GSL stake from 10.6% to 5.4% GSL shares traded $15 - $20 in July-Aug 2022). I’m not really sure what GS’s strategy was when they acquired the shares, and why GS is so unsure of the plan about a month later
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GSL has a share buy-back arrangement. GSL did utilize the plan during the first half of 2022 (mediocre execution @ $26+/sh). Under-$20/sh would mean GSL could buy back more shares.
HohumYNWA
GSL shareholder