Two major companies in the transport and logistics space plan to merge in an effort to create an “end-to-end” sea and land provider.
French shipping company CMA has made an offer to acquire the roughly 67% of Swiss logistics firm CEVA which it doesn’t own.
The offer, valuing the latter at CHF30 per share or around €50 million in total, would see its maritime operations combined with CEVA’s land-based logistics.
This will mean customers will be able to access a combined transport and logistics offering.
CMA had 2018 revenues of $21.1 billion while CEVA had revenues of around $7 billion in 2017, its last full financial year.
Rodolphe Saadé, Chairman-CEO of CMA CGM, stated: “The launch of this public tender offer is in line with CMA CGM’s overall strategy. By developing a logistics offering to complement our maritime activity, we will be able to propose a full ‘end-to-end’ service to our customers.
“This is a milestone in the Group’s history. Once the takeover is completed, CMA CGM will become a 100,000-employee strong Group, generating over USD 30 billion in revenue.”