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Logistics
CMA CGM wins approval to be a 25pc shareholder in CEVA Logistics
Date:2018-07-11 Readers:
CMA CGM has obtained all the regulatory approvals to become a regular shareholder with a 24.99 per cent stake in asset-light third-party logistics provider CEVA Logistics.

CMA CGM made an investment in convertible securities issued by CEVA in a concurrent private placement at the time of CEVA's initial public offering on the SIX Swiss Exchange. The securities will be converted into registered ordinary shares in the coming days.

CMA CGM has also entered into a lock-up agreement for one year following the IPO and has agreed not to raise its shareholding in CEVA for six months post-IPO.

Both companies will work together to expand their commercial cooperation and to develop complementary services, which address the increasing customer need for integrated end-to-end solutions.

Said CEVA chief executive Xavier Urbain: "It is good news that regulatory approvals have been obtained so quickly and we can now fully engage. We are excited about the partnership with CMA CGM."

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