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CMA nears 90 percent stake in Ceva

France-headquartered container shipping line CMA CGM is on course to control 89.47 percent of the shares in Swiss freight forwarder Ceva Logistics following a public tender.

Photo credit: CMA CGM

Ceva said that a CHF30 (USD30) per share public tender offer by CMA CGM is likely to go through; the offer from CMA CGM was agreed in October after a takeover bid from Denmark’s DSV was rejected.

The deal would clear the way for a squeeze out of Ceva’s remaining shareholders and a delisting from Switzerland’s stock exchange. This could be completed by the third quarter of 2019.

www.cma-cgm.com

www.cevalogistics.com

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