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Shipping Giant CMA CGM Raided in Tax Probe Over Lebanon Holding

June 8, 2022, 11:35 AM

Shipping giant CMA CGM SA’s Marseille headquarters were raided last year on suspicions its Lebanese holding company was dodging French taxes because it was controlled by the France-based billionaire Saade family.

The yet unreported June 2021 raid at CMA CGM’s premises was only made public in a French ruling that tossed out the Lebanese holding company’s claim that swoop by tax officials was illegal. No details were provided on the tax liabilities that may have been avoided.

Judges at the Aix-en-Provence court of appeals said that while Merit Corporation SAL had executives in Lebanon, strategic decisions were taken in ...