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BAAR/MARSEILLE: October 25, 2018. Following the withdrawal this week of a CHF30.00 share offer for Ceva Logistics from Danish company DSV, Ceva’s largest shareholder CMA CGM is offering to pay the same price to current Ceva shareholders who want to sell their stock.

Despite the offer that could see the French box carrier increase its 33.3 percent stake in Ceva, both companies have agreed the logistics company “will remain a listed company with an arm’s length business relationship with CMA CGM”. The shipping line made its initial 24.9 percent investment in Ceva in July this year.

Ceva Australia“We are convinced of Ceva Logistics’ potential,” declared CEO Rodolphe Saadé. “This industrial cooperation will make it possible to accelerate its required transformation and to 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.”

As part of the now broadened partnership, Ceva has agreed to purchase CMA CGM’s freight management business at a price to be agreed for cash or shares, and CMA CGM will support additional investments to transform Ceva’s digital and IT platforms.

In 2017 Ceva generated revenue of US$7 billion and an adjusted EBITDA of US$280 million; CMA CGM produced revenue of US$21.1 billion and an EBITDA of US$2.1 billion.

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