CMA CGM completes acquisition of CEVA Logistics
CMA CGM has completed its public tender offer to acquire CEVA Logistics, as it implements a transformation plan to extend its shipping footprint into the logistics sector.
The carrier now holds 97.89% of the outstanding shares of the logistics player and will consolidate the management teams in an aim to return CEVA to profit.
Rodolphe Saadé, chairman and CEO of CMA CGM Group, said that the purchase represented a milestone in the French company’s group, “confirming its position” as a leading maritime transport and logistics group.
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