CMA CGM confirms its investment in CEVA Logistics
May 03, 2018
CMA CGM, a leading worldwide shipping Group, confirms its investment in CEVA Logistics (“CEVA”), a global leading player in the logistics sector, on the occasion of CEVA’s initial public offering (IPO).
This investment will take the form of convertible bonds, which will be converted into CEVA common shares, upon obtaining all the requisite regulatory approvals. CMA CGM’s investment will represent 24.99% of CEVA’s capital.
At an IPO price of 27.5 CHF per share, CMA CGM’s investment amounts to 379 million CHF.
With this transaction, CMA CGM will expand its presence in the logistics sector, which is closely related to shipping. The two companies have agreed to explore together the development of joint commercial offerings, according to terms to be defined in the coming months.
The investment will also give CMA CGM two seats on CEVA’s Board of Directors.
CMA CGM press release