French line CMA CGM and potential new acquisition CEVA Logistics have outlined how the pair intend to grow together, albeit as separate brands. CMA CGM yesterday gave more details of its planned takeover of the logistics outfit.
Under the new plans CEVA will take over CMA CGM’s freight management activities called CCLog, following the settlement of the public tender offer
The two companies’ interaction post-acquisition will be based on an “arm’s length business relationship”, CMA CGM said, allowing both parties to deliver end-to-end supply chain solutions to their clients on competitive terms.
Rodolphe Saadé, chairman and CEO of CMA CGM, declared: “We are convinced of CEVA’s potential. This industrial project will make it possible to speed-up its transformation and to make it a more proficient leader of logistic (sic), to the benefit of its clients, its employees and its shareholders.”
