2018 October 11 16:08
CMA CGM has the strategic ambition to accelerate CEVA’s turnaround and create value for all stakeholders, as discussed within the Board of CEVA during the last few weeks, the company said in its press release.
CMA CGM plans to unlock CEVA’s potential by:
Bringing its recognized operational expertise and turnaround track record to reinforce CEVA’s management and organization and help it deliver a quicker and deeper turnaround.
Generating new commercial opportunities: as a leading shipping company, CMA CGM will generate new commercial opportunities for CEVA, particularly through its long-standing relationships with customers looking for more integrated end-to-end offers.
Leveraging business complementarities between CMA CGM freight management activities and CEVA: CMA CGM will contribute its freight management activities thereby reinforcing the CEVA platform and delivering scale benefits.
Supporting CEVA’s reorganization and development strategy: CMA CGM will support accelerated investments to secure CEVA’s IT transformation, driving renewed commercial success and operational efficiencies.
As part of this strategic plan, CMA CGM is considering an increase in its shareholding of CEVA with a view to providing the company with the required stability to achieve its transformation.
CMA CGM supports CEVA’s Board of Directors decision not to engage in the unsolicited offer it has received.
CMA CGM ‘s project would turn CEVA into a more profitable entity and better position the company to seize significant value-creation opportunities to benefit CEVA, its employees and shareholders.