Ocean Carriers

CMA CGM to Acquire Stake in Ceva Logistics

CMA CGM to Acquire Stake in Ceva Logistics
Danny Gill

The French based container shipping line CMA CGM has announced that they have reached an agreement to acquire an equity stake of nearly 25% of CEVA Logistics AG (“CEVA”), a global leading player in the logistics sector.

CMA CGM stated that as part of this process they would subscribe to a 380-450 million Swiss francs ($463 million) convertible bond offering by Ceva Logistics. These securities will be convertible into CEVA common shares subject to obtaining all required regulatory approvals.

With this transaction, CMA CGM says they aims to grow their presence in the logistics sector, a business closely related to shipping.

CEVA is a global leader in logistics and 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.

Rodolphe Saadé

Mr. Rodolphe Saadé

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.

Commenting on the proposed transaction, Rodolphe Saadé, Chairman and CEO of CMA CGM stated:“With this proposed investment in CEVA, CMA CGM makes a significant move, in line with its development strategy. CEVA is a major player in the logistics business, which is closely related to the shipping industry. Together, the two companies will also explore possible cooperations allowing us to propose an ever more differentiated and qualitative offering while integrating services beyond maritime transport.“

Ocean Carriers
Danny Gill

Danny is currently a Contributing Writer for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

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