French container line CMA CGM has increased its stake in Swiss-headquartered CEVA Logistics after the latter rejected a takeover offer last week.
CMA CGM has increased its stake in CEVA to 33% from 24.99%. CMA CGM bought a 24.99% stake in CEVA earlier this year and last week indicated it might increase its investment after the logistics company rejected an unsolicited takeover offer from DSV.
The 33% stake takes CMA CGM just shy of the 33.3% shareholding that under Swiss law it would be required to make a mandatory takeover offer.
CMA CGM is keen to grow the integrated logistics offerings between the two companies. Two weeks ago it was announced that Serge Corbel, cfo of APL, a subsidiary of CMA CGM would be moving to CEVA to become its cfo.
Source:seatrade-maritime
