Sponsored By

CMA CGM, CEVA Logistics widen strategic partnership

CMA CGM and its 33% owned CEVA Logistics have widened their cooperation by entering into a reinforced industrial project.

Lee Hong Liang, Asia Correspondent

October 25, 2018

1 Min Read
Kalyakan - stock.adobe.com

The cooperation aims to create new commercial opportunities within an international network, add value to the commercial complementarities between the two companies’ freight management activities, and support CEVA Logistics’ reorganisation and development strategy.

Rodolphe Saade, ceo of CMA CGM, commented: “This industrial cooperation will make it possible to accelerate its required transformation and make it a more profitable and efficient leader in logistics for the benefit of its clients, its employees and its shareholders. It reconfirms CMA CGM as the reference shareholder as well as its long term partner.”

Swiss-headquartered CEVA Logistics is 33% owned by the French container line, just shy of a 33.3% shareholding under Swiss law that would require CMA CGM to make a mandatory takeover offer.

CMA CGM has reiterated its commitment to maintain CEVA Logistics’ share listing and to have a significant free float.

Read more about:

CMA CGMceva logistics

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like