European Commission okays CMA CGM’s bid for CEVA Logistics

European Commission okays CMA CGM’s bid for CEVA Logistics

The European Commission has approved the proposed takeover of CEVA Logistics by French liner CMA CGM.

The commission concluded that the acquisition does not represent a competition issue.

CMA CGM made a $825m bid to take over CEVA at the end of last year, a figure CEVA’s board has since rejected claiming it is undervalued. The French line has still managed to grow its stake in CEVA to just over 50%.

Last October, CEVA rejected a takeover bid from Danish rival 3PL, DSV.

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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