CMA CGM - comment

At this point in the cycle, one of CMA CGM’s challenges is finding ways to best utilize its cash pile. This morning CMA CGM confirmed that it had bought “nearly” 100% of GEFCO, an automotive logistics provider CMA CGM is investing heavily in the CEVA logistics business as it looks to further embed itself in its client’s supply chains. GEFCO was previously 75% owned by Russian Railways and 25% by PSA (Peugeot). Price is undisclosed however previous reports estimated an EV of €450m - €500m.