CMA CGM gets regulatory approval for CEVA Logistics investment
CMA CGM has obtained the regulatory approvals required for its proposed investment in CEVA Logistics.
When the deal goes through, CMA CGM – the world’s third largest container shipping group – will hold 24.99% of CEVA’s share capital.
In a statement sent to Post&Parcel today (11 June), CEVA Logistics said: “CEVA and CMA CGM 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.
“Both companies explore arms-length cooperation and believe that the partnership could create significant value to customers and would be mutually beneficial to both companies.”
CEVA’s CEO, Xavier Urbain, added: “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.”