Shipping major mulls increased involvement in logistics sector
12 Oct 2018 - by
French shipping line CMA CGM is considering increasing its shareholding of CEVA Logistics in order to speed up the turnaround of the logistics company.
The plan includes using CMA CGM’s operational expertise to reinforce CEVA’s management and organisation, generating new commercial opportunities for CEVA through CMA CGM’s long-standing relationships with customers, and supporting accelerated investments to secure CEVA’s IT transformation, according to a joint statement.
“CMA CGM’s project would turn CEVA into a more profitable entity and better position the company to seize significant value-creation opportunities,” a statement from the shipping line reads.
CMA CGM currently holds a 25% stake in CEVA Logistics, which is valued at more than R4.8 billion.