Container shipping group CMA CGM has gained full approval regarding its investment in CEVA Logistics and now a 24.99 per cent shareholder and both companies are to work together to expand commercial cooperation and develop integrated end-to-end solutions.
The deal was made through a concurrent private placement around the time of CEVA’s offering on the SIX Swiss Exchange. CMA CGM has also agreed to not to increase its shareholding in CEVA for six months post-IPO.
Both companies believe that the partnership and close cooperation will benefit both and their customers. “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,” said CEVA CEO Xavier Urbain.