CMA CGM is taking over almost all of GEFCO, a company specializing in automotive logistics. According to the French carrier’s CEO, Rodolhe Saadé, the acquisition will strengthen its position as a global player in transport and logistics.
“With GEFCO, our subsidiary, CEVA, will become the world leader in automative logistics, having recently enhanced its capabilities in e-commerce logistics with the acquisition of Ingram Micro CLS.”
According to Reuters, the deal is worth 450/500 million euros. On the basis of the declarations by the shipping group, the operation has apparently already been authorized by the European Commission, even if it will take a few months to get the final go-ahead.
Translation by Giles Foster