CMA CGA becomes core shareholder of Ceva Logistics

Reuters reports that French container transportation and shipping company CMA CGA now holds 89.47% share capital and voting rights of Swiss Group Ceva Logistics after a tender offer,

According to provisional results announced at the end of last week 21,475,325 Ceva shares were in the tender offer Advertisement.

CMA CGM’s public tender offer of 30 Swiss francs per share values Ceva at 1.67 billion Swiss francs ($1.66 billion), a price agreed after Ceva rejected a takeover bid in October from Danish freight firm DSV.

An additional acceptance period will start on March 20 and run until April 2. ($1 = 1.0044 Swiss francs)