CMA CGM to acquire stake in CEVA LogisticsStaff Writer | April 23, 2018
CMA CGM reached an agreement to acquire an equity stake of nearly 25% of CEVA Logistics.
Shipping The two companies have agreed to explore potential opportunities
This equity investment takes place in connection with CEVA’s planned initial public offering on the SIX Swiss Exchange, announced on 20th April 2018, and remains conditioned upon its successful completion.
With this transaction, CMA CGM aims to grow its presence in the logistics sector, a business closely related to shipping.
A global leader in logistics and with more than 56,000 employees and temporary/agency workers in 160 countries, CEVA posted revenues of over 7 billion dollars in 2017.
CEVA is the #5 player in contract logistics, providing end-to-end supply chain solutions, and managing more than 9 million sqm. of warehouses in more than 750 sites in the world.
It is also ranked 10th in the world in freight forwarding, with a strong footprint in Asia. Its long-standing blue-chip customer base includes leading players in the automobile, consumer & retail (including e-commerce), industrial & aerospace, technology and healthcare sectors.
Following this equity investment, CMA CGM will nominate two members of CEVA’s Board of Directors. The two companies have agreed to explore potential opportunities to work together towards the development of joint commercial offerings, according to terms that will be defined in the coming months.
The closing of the transaction remains subject to the completion of CEVA’s IPO as well as to the approval from regulatory authorities. ■