CEVA has announced that CMA CGM has obtained all regulatory approvals required in connection with its investment in CEVA and will become a 24.99% shareholder.
CMA CGM, the third largest container shipping group in the world, made an investment in convertible securities issued by CEVA in a concurrent private placement at the time of CEVA’s IPO on the SIX Swiss Exchange.
CMA CGM has entered into a lock-up agreement for one year following the IPO and has agreed not to increase its shareholding in CEVA for six months post-IPO.
In a press release, CEVA stated: “CEVA and CMA CGM will work together to expand their commercial cooperation and to develop complementary services, which address the increasing customer need for integrated end-to-end solutions. Both companies explore arms-length cooperation and believe that the partnership could create significant value to customers and would be mutually beneficial to both companies.”
CEVA’s CEO, Xavier Urbain, commented: “It is good news that regulatory approvals have been obtained so quickly and we can now fully engage. We are excited about the partnership with CMA CGM.”
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