CMA CGM increases CEVA ownership to nearly 89.5 percent

French container carrier increases ownership of Swiss logistics company after monthlong tender offer.

CMA CGM increases CEVA ownership to nearly 89.5 percent

French container carrier increases ownership of Swiss logistics company after monthlong tender offer.

CMA CGM increases CEVA ownership to nearly 89.5 percent

French container carrier increases ownership of Swiss logistics company after monthlong tender offer.

 

   CMA CGM now owns 89.47 percent of the shares of CEVA Logistics, according to a notice posted on CEVA’s website.
    CMA CGM, which already had held or controlled through forward share purchase agreements and swaps about 51 percent of CEVA, increased its holdings in the Swiss logistics company in a tender offer that ran from Feb. 12 through Tuesday.
    In its prospectus, CMA CGM said it would “actively support the acceleration of CEVA’s turnaround and strengthen its long-term strategic and industrial partnership with CEVA. As long-term controlling shareholder, CMA expects to nominate new members to the board of directors after completion of the tender offer. CMA will keep CEVA as an independent company and intends, under current circumstances and provided that a sufficient number of shareholders do not tender their CEVA shares into the offer, to keep it listed.”
    A handbook from the Swiss Stock Exchange, however, says companies should have a “free float,” shares that can be publicly traded, of 20 percent.

Louisiana is said to be the hardest-hit state by proposed tariffs overall, with the vast majority of that impact coming from soybeans. Not because we are the top soy-producing state, but because we are the gateway port for that product to the rest of the world.

The U.S. exported 107,655 metric tons of beef in March, a 4 percent decline year-over-year, while U.S. pork exports during the month totaled 211,688 metric tons, down 7 percent, according to the U.S. Meat Export Federation.

Most Popular
Latest News
Social Media

Loading...

Rhenus Group acquires Rodair

Rhenus Group acquires Rodair

Embed this story

Share Code Version 1

This version will embed the story headline and includes HTML fallback protection, ensuring the story will display even if some users decide to disable javascript in their browsers.

Copy & Paste the following code to embed this story on your website:

Preview

CMA CGM increases CEVA ownership to nearly 89.5 percent

French container carrier increases ownership of Swiss logistics company after monthlong tender offer.

Mar 15, 2019 on Dec 27, 2018AmericanShipper.com

Share Code Version 2

This version will embed the story headline without any styling applied. Use this version if you will use your own custom styling on your website. This version also includes HTML fallback protection.

Copy & Paste the following code to embed this story on your website:

Preview

CMA CGM increases CEVA ownership to nearly 89.5 percent

French container carrier increases ownership of Swiss logistics company after monthlong tender offer.

Mar 15, 2019 on Dec 27, 2018AmericanShipper.com