CMA CGM has confirmed its investment in CEVA Logistics (CEVA), a global leading player in the logistics sector, during CEVA’s initial public offering (IPO).
The investment by the world’s third largest carrier, which will represent 24.99% of CEVA’s capital, will take the form of convertible bonds.
CMA CGM will convert the bonds into CEVA common shares upon obtaining all the requisite regulatory approvals.
At an IPO price of US$ 2.55 (27.5 CHF) per share, CMA CGM’s investment amounts to $ 379.6 million (379 million CHF).
Read a Port Technology technical paper on how digital container shipping is creating intelligent supply chains
With this transaction, CMA CGM will expand its presence in the logistics sector.
The two companies have agreed to explore the development of joint commercial offerings, with CMA CGM’s investment securing two seats on CEVA’s Board of Directors.
