French CEVA Logistics acquires Turkish giant for $440 million

Borusan Lojistik, a major player in the transport sector belonging to the Borusan Group, has passed to CEVA Logistics, a subsidiary of the French CMA CGM Group, following approval from the Competition Authority. As part of the sale, the French company will pay $440 million for 100 percent of Borusan Lojistik's shares. The agreement reached between the companies in April reached its final conclusion after receiving the green light from the competition authority.

A GLOBAL LEADER

Operating in more than 170 countries with approximately 110,000 employees, CEVA Logistics is considered one of the most important actors in the global logistics sector. While the company has a total of over 1,500 facilities around the world, it was announced that its total revenue in 2024 was $18.3 billion. CEVA Logistics continues its operations as part of the strong structure of its parent company, the CMA CGM Group, in the fields of sea, land, air transport, and integrated logistics.

BORUSAN PORT TO REMAIN SEPARATE

In a statement made after the sale, Borusan Group management emphasized that Borusan Port would continue to remain entirely within the group. Thus, Borusan will continue its port management activities separately.

With this significant acquisition, CEVA Logistics aims to further expand its logistics network in Turkey while taking on a more effective role in the international market.

News Source: 12punto