CMA CGM sells freight management to CEVA (UPDATE)

When CEVA Logistics went public in May 2018, CMA CGM became the reference shareholder by taking a 25% stake in the logistics and freight forwarding group. When DSV made an unsolicited bid to take over CEVA earlier this month, the French pulled up their stake to just under a third of the shares. That did not prevent DSV from launching a second attack, which the Danish group halted because CEVA’s top management did not immediately accept the increased offer.