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Shipping giant CMA CGM and the acquisition of GEFCO

CMA CGM said on 8/4 that it is purchasing most of the capital of GEFCO, a company that specializes in automotive logistics and multimodal supply chains. Before the acquisition, GEFCO was previously co-owned by Russian Railways (RZD) and carmaker Stellantis.

The Logistician by The Logistician
10/04/2022
in Blog
Private: CMA CGM tiếp quản GEFCO, giải cứu công ty khỏi các lệnh trừng phạt từ phương Tây

Image: Minh Trang

HIGHLIGHTS

  • Russian Railways and Stellantis divested on GEFCO, CMA CGM announced takeover of GEFCO by buying back nearly 100% of shares.
  • After the acquisition, GEFCO is said to be incorporated into CEVA Logistics and expected to dominate the automotive logistics market.

FULL ARTICLE

Sanctions from the West caused Russian Railways’ divestment

The transaction has been submitted for clearance to competition authorities. However, as CMA CGM notes, the European Commission has approved CMA CGM to purchase GEFCO’s capital immediately under a special procedure, awaiting final approval in the coming months.

Russian Railways had to sell 75% of shares because of the sanctions from the West

After RZD became the focus of Western sanctions, GEFCO said last week that it would buy back 75% of its shares held by the state-owned corporation. Similarly, car maker Stellantis stated that it had sold its remaining 25% ownership in GEFCO to CMA CGM.

Automaker PSA controlled GEFC until 2012, when it sold a 75% stake to RZD for 800 million Euros (869 million USD). PSA joined with Fiat Chrysler to become Stellantis last year. However, at the moment there was no reference to the value of the deal made by CMA CGM.

​​The ambition of France-based leader in shipping and logistics when taking control of GEFCO

CEVA Logistics is already owned by CMA CGM, and it is expected that the latter’s knowledge and network will be utilized to benefit GEFCO. According to a statement from CMA CGM, GEFCO will be incorporated into CEVA Logistics.

Reports in France estimate the amount of CMA CGM’s acquisition of GEFCO between 450 million and 500 million Euros

“This will create the world’s largest automotive logistics supplier and will boost CEVA’s leadership position in contract logistics,” the CMA CGM company claims. The move is also expected to help the company achieve its goal of developing and providing end-to-end shipping and logistics solutions.

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, commented on the deal: “The acquisition of GEFCO is a significant step forward in our growth plan, bolstering our position as a worldwide player in transportation and logistics.”

Trần Văn Hiếu

GEODIS announces that it has successfully signed a contract to acquire Keppel Logistics

Source: Reuters
Tags: Automotive LogisticsCMA CGMGEFCOM&ARussian Railwaystransport

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