CMA CGM kisses the bride
The rumours have proved to be true, accelerated by the war in Ukraine. CMA CGM Group is acquiring almost 100% of Gefco’s shares. The group, founded by the French car manufacturers PSA in 1949, is mainly active in automotive logistics. The request for regulatory approval is under way.
As part of a "special procedure", as the press release said, the European Commission has authorised CMA CGM to acquire Gefco’s capital with immediate effect before the final approval of cartel authorities. Rodolphe Saadé, chairman and CEO of the CMA CGM Group, played the national card in his comment. “We're creating a major French player to serve our customers around the world.”
As far as it is known, the brand will stay and Gefco will continue operating its network of locations in 47 countries and around 11,500 staff around the world – with more than 2,500 of them in France. With the deal to acquire Gefco, the CMA CGM Group is moving forward with its plan to develop and provide end-to-end shipping and logistics solutions to support its customers’ supply chains.
The group recently announced the completion of the takeover of Ingram Micro’s Commerce & Lifecycle Services (CLS) and of Colis Privé. These deals have accelerated the development of Ceva Logistics in e-commerce and in key market segments, such as technology, retail and fashion. (sh)