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  • 2018 October 25 12:24

    CEVA Logistics and CMA CGM broaden their strategic partnership and sign a new relationship agreement

    CMA CGM signed a new relationship agreement with CEVA on Wednesday October 24th to reinforce the industrial cooperation between the two companies, CMA CGM said in its press release. All the CEVA shareholders will have the opportunity to benefit from the substantial value creation expected from this cooperation with a commitment to keep the CEVA shares listed.

    This agreement will make it possible for CEVA Logistics to accelerate its transformation by:

     Bringing CMA CGM’s operational expertise and its experience in corporate transformations to help CEVA achieve its recovery plan faster and more efficiently.

     Creating new commercial opportunities: as a leader in the sea transport sector with an international commercial network, CMA CGM will generate new opportunities for CEVA Logistics.

     Adding value to the commercial complementarities between CEVA Logistics’ and CMA CGM’s freight management activities: CMA CGM will transfer its freight management activities to CEVA Logistics, thus strengthening the company and creating economies of scale.

     Supporting CEVA Logistics’ reorganization and development strategy: CMA CGM will support additional investments aiming - among other things- at implementing CEVA Logistics’ digital and IT transformation which will stimulate its commercial success and operational efficiency.

    This industrial cooperation has received the full support of CEVA Logistics’ board of directors and management. It preserves CEVA Logistics’ assets and identity. It will be in the best interest of the company:

     CEVA Logistics’ clients, who will benefit from a broader offering of services

     Its employees, who will participate in the development of a stronger company

     Its shareholders: the industrial cooperation offered by CMA CGM will significantly improve the financial performance of CEVA Logistics. CMA CGM commits to maintain the company’s share listing at the SIX Swiss Exchange and to have a significant free float.

    The agreement signed between CMA CGM and CEVA also entails:

     A removal of the drag along clause in the relationship agreement previously entered into

     A voluntary public tender offer from CMA CGM, for a value of 30 CHF per share in cash, for the CEVA Logistics shareholders who wish to sell their shares despite the value creation potential from the industrial cooperation with CMA CGM, which will be pre-announced by November 30, 2018 at the latest.




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