On April 27, 2025, French shipping company CMA CGM's subsidiary CEVA Corporate Services signed an agreement to acquire the logistics arm of Turkish conglomerate Borusan, Borusan Tedarik Zinciri Cozumleri ve Teknoloji, for $440 million, according to a filing by Borusan Yatirim, the investment arm of the Borusan Group.
Borusan Yatirim stated in the exchange filing that the price is subject to "ordinary net cash and working capital adjustments," adding that the deal was subject to approval from competition authorities and other relevant regulatory bodies.
Borusan Tedarik operates the largest port in Turkey’s manufacturing hub of Gemlik, with an annual capacity to handle 1,500 ships and around 400,000 twenty-foot containers (TEU), a standard measure for shipping containers.
The port serves as a critical logistics hub, supporting Turkey's industrial and trade activities.
The acquisition aligns with CMA CGM's strategy to expand its logistics footprint in key markets. CEVA Corporate Services, a part of CMA CGM Group, specializes in end-to-end supply chain solutions, and this deal strengthens its presence in the Eastern Mediterranean region.
Borusan, on the other hand, has been focusing on restructuring its portfolio, divesting non-core assets to streamline operations.
This deal follows a trend of consolidation in the global logistics sector, where major players are acquiring regional operators to enhance their supply chain networks amid rising demand for efficient freight and port services.
In 2024, CMA CGM reported revenues of $55 billion, reflecting its aggressive expansion strategy, while Borusan Group has been a key player in Turkey’s industrial landscape with interests spanning steel, energy, and logistics.