Comment / Ceva's $440m Turkish M&A dish – what's in it?

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News that Ceva Logistics has agreed to acquire Borusan Tedarik to expand its footprint in Turkey, was followed at our Premium end by a distinct: “Borusan who?”

Background

The logistics arm of French ocean carrier CMA CGM is parking cash in a country where “measuring currency risk premium” has been high on the agenda of investors, but Ceva looks unfazed by its latest move.

The seller – Turkish conglomerate Borusan Yatirim: 14,000 staff, $1.5bn market cap – is shrinking, letting go its logistics ...

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    Ceva Logistics CMA CGM M&A radar Vertical consolidation