CEVA completes share transfer agreement for 100% of Borusan Tedarik

CEVA Logistics, a subsidiary of the CMA CGM Group, has strengthened its domestic footprint in Turkey through today’s closing of the acquisition of 100 percent of Borusan Tedarik Zinciri Çözümleri ve Teknoloji Şirketi, the legal entity behind domestic logistics firm Borusan Lojistik. The $383 million (USD) transaction recently received all regulatory approvals ahead of today’s closing.

Privately held Borusan Holding sold 69.47 percent of Borusan Tedarik’s shares, while the remaining 30.53 percent were held by publicly traded Borusan Yatırım. The original purchase agreement was announced on April 26, 2025. In addition to logistics activities from Borusan Lojistik, CEVA controls foreign subsidiaries, as well as the eTA and Bukoli subsidiaries in Turkey. The Borusan Port activities under the former Borusan Lojistik’s brand remain with Borusan Holding.

With the acquisition closed, CEVA will now begin the integration and rebranding process to further strengthen its position as a top 3PL in Turkey’s domestic market. In contract logistics, CEVA now manages approximately 1,190,000 square meters of warehouse space in the country. In ground transport, the combination reflects nearly 1 million domestic FTL transports per year, while Borusan Lojistik’s LTL activities will further strengthen CEVA’s existing network, including connections to Europe. CEVA will also have a leading position in finished vehicle logistics, as well as air and ocean transport, thanks to the Borusan Lojistik operations.

Mathieu Friedberg, CEO of CEVA Logistics, said: “The Turkish economy and its domestic logistics market are dynamic. This growth, combined with the country’s strategic location along the India, Middle East, Europe Corridor, opens a wide array of opportunities for our new size and breadth of logistics solutions. With our combined business, Turkey now represents CEVA’s third-largest country by gross revenue.”