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ACA/SCA 2023


MARSEILLE: April 20, 2018. CMA CGM is planning to buy CEVA Logistics securities at a cost of CHF380 million-CHF450 million for conversion into 24.99 percent of the company, subject to regulatory approval.

The investment is conditional on CEVA’s IPO set for May 04 on the SIX Swiss Exchange at CHF27.50 - CHF52.50 per share. If successful, the company will have a market capitalization between CHF1.5 billion and CHF1.8 billion.

CEVA LogisticsAccording to CEVA, the IPO and the concurrent private placement with CMA CGM are mutually conditional and if realized will produce an accrual of CHF1.2 billion that will be used to repay debt.

The three largest current shareholders of CEVA — Capital Research and Management Company, Franklin Advisors and Apollo Global Management — are expected to remain as investors after the IPO.

For the first quarter of 2018 CEVA is forecasting revenue growth of 5.3 percent over its Q1 2017 revenue of US$1.9 billion as a result of higher freight rates and moderate volume growth in its Freight Management and Contract Logistics divisions. Adjusted EBITDA is expected to be US$65 million, a rise of US$10 million over last year.

CMA CGM chairman and CEO Rodolphe Saadé commented: “With this proposed investment in CEVA, CMA CGM makes a significant move, in line with its development strategy. CEVA is a major player in the logistics business, which is closely related to the shipping industry. Together, the two companies will also explore possible cooperation allowing us to propose an ever more differentiated and qualitative offering while integrating services beyond maritime transport.“

CSAFE Global



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