CMA CGM - comment

With strong cash balances CMA acquired 100% of GEFCO, an automotive logistics Company, in April. CMA CGM has received European Union competition authority’s approval and will be in a position to proceed with the integration of GEFCO into its logistics division. 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.