The CMA CGM Group has completed its bid to acquire CEVA Logistics, following the close of the public tender offer launched on February 12, 2019.
According to CMA CGM, it will hold 97.89% of the outstanding shares and voting rights of CEVA upon settlement of the tendered CEVA shares, scheduled for April 16, 2019.
CMA CGM plans to delist CEVA from the SIX Swiss Exchange.
With a presence in 160 countries, 110,000 employees and revenues of more than US$30 billion, the CMA CGM Group will offer a comprehensive range of solutions across the supply chain, including LCL, air freight, purchase order management, contract logistics and customs clearance.
“This successful transaction marks a major milestone in the history of CMA CGM’s growth,” said Rodolphe Saadé, chairman and chief executive officer of the CMA CGM Group. “With CEVA, CMA CGM has confirmed its position as a leading worldwide maritime transport and logistics group, supported by a team of 110,000 employees. We can now offer our customers a complete range of solutions that meet all their needs and set us apart from the competition.”
CEVA’s new strategic plan has been prepared jointly with CMA CGM. A new CEVA operational centre will be set up in Marseilles to bring together the management teams and support functions of the two companies.
This consolidation will enable the deployment of a coordinated set of structural initiatives such as investing in information systems and digital technology to improve productivity; refocusing local teams on customer service; achieving a more balanced customer segmentation; streamlining the corporate organization and harmonizing processes; as well as implementing more targeted and customer-focused communication, according to CMA CGM.