Freight Forwarding

CEVA Logistics Broadens Strategic Partnership with CMA CGM

CEVA Logistics Broadens Strategic Partnership with CMA CGM
Danny Gill

The Board of Directors of CEVA Logistics AG have announced that they will broaden their partnership with CMA CGM. As part of this initiative, CEVA Logistics will acquire the freight management business of CMA CGM. Furthermore, the Board of CEVA Logistics has agreed with CMA CGM, that CMA CGM will offer to CEVA Logistics’ shareholders wishing to exit their investment in CEVA Logistics to purchase their shares for CHF 30.00 per share. The Board of Directors of CEVA Logistics said that they unanimously believe that the partnership with CMA CGM will provide an attractive value proposition to shareholders in the mid and long term. CEVA Logistics and CMA CGM have agreed that CEVA Logistics will remain a listed company with an arm’s length business relationship with CMA CGM.

CEVA Logistics and CMA CGM have said that they are convinced of the substantial growth and value creation potential of this joint industrial project and future strategic collaboration. The industrial project between CEVA Logistics and CMA will generate new commercial opportunities supported by an investment in digital transformation and further increased operational efficiency to deliver a strong and sustainable value creation to shareholders and customers.

As a condition for CMA CGM agreeing to transfer to CEVA Logistics its freight management business and its obligation to offer an exit option to shareholders at CHF 30.00 per share, the Board of Directors of CEVA Logistics AG has agreed that CMA CGM’s tender obligation in case of a third party offer is waived with immediate effect, but shall be reinstalled if the offer of CMA CGM is not carried out as agreed.

CEVA Logistics will provide further details in connection with the announcement of its Q3 2018 results and in connection with the publication of its response statement (Board Report) to the tender offer prospectus by CMA CGM, setting out the details and financial impact of its new long-term business plan resulting from this partnership.

Rodolphe Saadé, Chief Executive Officer of CMA CGM declared: “We are convinced of CEVA Logistics’ potential. This industrial cooperation will make it possible to accelerate its required transformation and to make it a more profitable and efficient leader in logistics for the benefit of its clients, its employees and its shareholders. It reconfirms CMA CGM as the reference shareholder as well as its long-term partner.”

Freight Forwarding
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).

More in Freight Forwarding

Panalpina Opens LCL Hub in Cartagena Colombia

Panalpina Opens LCL Hub in Cartagena Colombia

Logistics ManagerOctober 19, 2018
SEKO Logistics Bolsters eCommerce Solution with Majority Stake in Omni-Channel Logistics

SEKO Logistics Bolsters eCommerce Solution with Majority Stake in Omni-Channel Logistics

Logistics ManagerSeptember 10, 2018

Kuehne + Nagel Ventures Forth with a New Global Initiative

Danny GillJuly 26, 2018
freightzen

Freightzen Logistics Launches New Website

Danny GillJune 22, 2018

WCA Awards FreightSnapAsia with Full Endorsement

Logistics ManagerMay 3, 2018
Geodis Launches Online Booking and Pricing for Global Air and Ocean Shipments

Geodis Launches Online Booking and Pricing for Global Air and Ocean Shipments

Logistics ManagerMarch 19, 2018

DHL Global Forwarding Awarded AEO Certification in Indonesia

Logistics ManagerFebruary 15, 2018

DHL e-Commerce Expands Domestic Delivery Network Nationwide

Logistics ManagerDecember 27, 2017
Leopard Sculpture

Tigers Moves Larger-than-life Leopard From South Africa to UK

Logistics ManagerDecember 22, 2017
LM is the leading source of logistics and cargo news within ASEAN and is regarded as one of the most authoritative sources of information. Our subscribers keep up to date with the latest logistics news, views, features and events within ASEAN and beyond.
AFL Real Logo

Airfreight Logistics is the air cargo professional’s number one provider of news and information in ASEAN and around the World. To keep abreast of all the latest news and for in-depth features visit our website www.airfreight-logistics.com

UpMedio

Subscribe to our newsletter!

© 2015 Logistics Manager | About Us | Advertise | Subscribe | Contact | thai Thai Version