EQS Group-Ad-hoc: CEVA Logistics AG / Key word(s): Miscellaneous
CEVA Logistics AG: CMA CGM receives regulatory approvals for its investment
in CEVA
11-Jul-2018 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
*CMA CGM receives regulatory approvals for its investment in CEVA *
Baar, Switzerland, 11 July, 2018 - CEVA Logistics A.G. ("CEVA"), one of the
leading asset-light third-party logistics providers, announces that CMA CGM
S.A. ("CMA CGN") has obtained all regulatory approvals required in
connection with its investment in CEVA and will become a regular 24.99%
shareholder in CEVA.
CMA CGM, the third largest container shipping group in the world, made a
strategic investment in convertible securities issued by CEVA in a
concurrent private placement at the time of CEVA's initial public offering
on the SIX Swiss Exchange (the "IPO"). CMA CGM has now obtained all required
regulatory approvals and the securities will be converted into registered
ordinary shares in the coming days. Following conversion, CMA CGM will hold
24.99% of CEVA's share capital. 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.
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._"
*For additional information please contact: *
Investors:
Pierre Benaich
SVP Investor Relations
pierre.benaich@cevalogistics.com
+41 41 547 0048
Media:
David Urbach
SVP Corporate Development
david.urbach@cevalogistics.com
+41 799 333 083
Cathy Howe
Pilot Marketing
ch@pilotmarketing.co.uk
Tel: +44 (0)208 941 5381
*CEVA - Making business flow*
CEVA Logistics, a global asset-light third-party logistics company, designs
and operates industry leading supply-chain solutions for large and
medium-size national and multinational companies. Its integrated network in
Freight Management and Contract Logistics spans more than 160 countries.
Approximately 56,000 employees are dedicated to delivering effective
solutions across a variety of industry sectors where CEVA applies its
operational expertise to provide best-in-class services. CEVA generated
revenue of $7 billion and adjusted EBITDA of $280 million in 2017. CEVA
Logistics is listed on SIX Swiss Exchange under ticker symbol CEVA. For more
information, please visit www.cevalogistics.com [1].
End of ad hoc announcement
703349 11-Jul-2018 CET/CEST
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=7003b4a5222aa3f86bea6b061249e50c&application_id=703349&site_id=vwd&application_name=news
(END) Dow Jones Newswires
July 11, 2018 01:00 ET (05:00 GMT)
