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Thursday, May 28, 2020

Maritime Logistics Professional

October 17, 2018

CMA CGM Ups Its Stake in Ceva Logistics

(Photo: Eric Haun)

(Photo: Eric Haun)

French shipping group CMA CGM has obtained a further 4.56 percent stake in CEVA Logistics AG , the Swiss transport group which rejected a bid from Denmark's DSV, Ceva said on Wednesday.

"The company has further been informed that CMA CGM entered into a derivative transaction related to the shares of the company with cash settlement (Total Return Swap) giving CMA CGM an additional economic exposure of 4.56 percent in CEVA Logistics' share capital," Ceva said in a statement.

(Reporting by Sudip Kar-Gupta)

CMA CGMDenmarkSudip Kar-Gupta