Turkey's industrial giant sold to foreign investors

Borusan Supply, a subsidiary of Borusan, one of Turkey's leading industrial groups, has been sold to CEVA Logistics, which is owned by the French CMA CGM Group. The French company will pay 440 million dollars for the sale, which has been approved by the Competition Authority.

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Turkey's industrial giant sold to foreign investors

Borusan Supply, owned by the Borusan Group, one of Turkey's largest industrial organizations, has been sold to CEVA Logistics, a subsidiary of the French CMA CGM Group. The sale process was completed following approval from the Competition Authority.

440 MILLION DOLLAR SALE

The agreement, reached in April, involves the French company acquiring 100 percent of Borusan Supply's shares for 440 million dollars. CEVA Logistics is a world-renowned logistics firm operating in the fields of sea, land, air, and logistics solutions.

CEVA Logistics operates as a subsidiary of the CMA CGM Group. The company is a global logistics giant with approximately 110 thousand employees, providing services in over 1,500 facilities across more than 170 countries. The expectation of an 18.3 billion dollar turnover for 2024 highlights the scale of the company.

BORUSAN GROUP TO CONTINUE PORT OPERATIONS

Following the sale, the Borusan Group management announced that Borusan Port, another subsidiary of the group that carries out logistics activities, will continue its operations within the group.

News Source: 12punto