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CMA CGM completes Ceva takeover

[ April 9, 2019   //   ]

CMA CGM Group has completed its public tender offer for Ceva Logistics, giving it 97.89% of the outstanding shares in the company on completion, scheduled for 16 April.

Marseille-based CMA CGM group said the combined entity would be present in 160 countries, with 110,000 people and with more than $30 billion in revenue.

CMA CGM, already one of the world’s biggest shipping lines, would now be able to meet the logistics needs of its customers around the world with a comprehensive range of solutions across the supply chain, including less-than-ocntainerload cargo, airfreight, purchase order management, contract logistics and customs clearance.

A CEVA operational center will be set up in Marseilles to bring together the management teams and support functions.

Chairman and chief executive of the CMA CGM Group, Rodolphe Saadé, who is also set to be elected as CEVA chairman at the AGM on 29 April, said: “This successful transaction marks a major milestone in the history of CMA CGM’s growth. With CEVA, CMA CGM has confirmed its position as a leading worldwide maritime transport and logistics group, supported by a team of 110,000 employees. We can now offer our customers a complete range of solutions that meet all their needs and set us apart from the competition.”