News / Green light for CMA CGM $380m investment in Ceva Logistics

© Sheila Fitzgerald

Shipping line CMA CGM has confirmed its 24.99% stake in 3PL Ceva Logistics after receiving all the necessary regulatory approvals.

The container line made the private placement investment in May as Ceva launched its initial public offering (IPO) on the Six Swiss Exchange.

At an IPO price of Sfr27.50 (US$27.70)per share, CMA CGM’s investment amounts to Sfr379m ($381.65m).

Chief executive of Ceva Xavier Urbain said it was “good news” that approval had been obtained, adding that he was excited by the partnership.

As part of the deal, CMA CGM has ...