FRENCH shipping giant CMA CGM is growing its presence in the logistics sector with the acquisition of a significant stake in CEVA Logistics.
CMA CGM announced on Friday it had reached an agreement to acquire an equity stake of close to 25% of CEVA.
The investment is taking place in connection with CEVA’s planned initial public offering on the SIX Swiss Exchange, announced on Friday (20 April).
CMA CGM chairman and CEO Rodolphe Saadé said the move was significant and in line with CMA CGM’s development strategy.
“CEVA is a major player in the logistics business, which is closely related to the shipping industry,” he said.
“Together, the two companies will also explore possible co-operations allowing us to propose an ever more differentiated and qualitative offering while integrating services beyond maritime transport.”