CMA CGM moves to acquire CEVA Logistics

CMA CGM moves to acquire CEVA Logistics

French containerline CMA CGM has moved to buy out the remaining shares in CEVA Logistics. The Marseille-headquartered line already has a 33% stake in CEVA, a company with annual revenues of $7bn, which turned down a takeover offer from Danish rival DSV earlier this month.

CMA CGM said its move to acquire CEVA was designed to “reinforce the industrial cooperation between the companies,” including a plan to transfer the shipping line’s own smaller freight management operations to CEVA.

CMA CGM said it plans to keep CEVA listed in Zurich and expects to close the buyout offer by November 30.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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