CMA CGM receives regulatory approvals for its investment in CEVA
12/07/2018 - 12:15:00
CEVA Logistics A.G. (“CEVA”), one of the leading asset-light third-party logistics providers, announces that CMA CGM S.A. (“CMA CGM”) has obtained all regulatory approvals required in connection with its investment in CEVA and will become a regular 24.99% shareholder in CEVA.
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, commented: "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."