CMA CGM Group has received European Union competition authorities approval and will be in a position to proceed with the integration of GEFCO into its logistics division.
During the announcement on 8 April the group said that the acquisition aims at strengthening the end-to-end shipping and logistics solutions that CEVA Logistics – a subsidiary of CMA CGM – provides to its customers.
The move supports the group’s vision to expand its position in key markets, especially in France and the rest of Europe.
“The acquisition of GEFCO represents a further step in our development strategy and strengthens our position as a global player in transport and logistics,” commented Rodolphe Saadé, Chairman and CEO of the CMA CGM Group.
Due to local regulatory clearances the acquisition has yet to be passed in Morocco.