French carrier CMA CGM is to acquire a 25% stake in Ceva Logistics, the Dutch supply-chain management firm, in an effort to expand its landside capabilities. The agreement is subject to Ceva's planned IPO and listing on the Swiss stock exchange, in which the container shipping line will "subscribe for mandatory convertible securities" valued at nearly $462m and appoint two members to the Ceva board. In February, the company announced plans to buy out rival Swiss-based logistics group Hapag-Lloyd AG (HLG) by buying up about 10% of HLG's shares.
French carrier CMA CGM is to acquire a 25% stake in Ceva Logistics, the Dutch supply-chain management firm, in an effort to expand its landside capabilities. The agreement is subject to Ceva's planned IPO and listing on the Swiss stock exchange, in which the container shipping line will "subscribe for mandatory convertible securities" valued at nearly $462m and appoint two members to the Ceva board. CMA CGM maintains 11.5% of world shipping capacity, but is under pressure from rivals such as China's COSCO, which is in the process of acquiring Orient Overseas Container Line to give it greater market share.