CEVA Logistics Announces Increase in CMA CGM Stake

Martinus Job - Jakarta, 18/10/2018, 07:31


A global logistics firm, CEVA Logistics AG (CEVA) announces that CMA CGM S.A. (CMA CGM) has purchased shares of CEVA during the last few days, so that the group consisting of CEVA and CMA CGM currently holds a participation of 33 per cent in the CEVA’s shares. 

CEVA and CMA CGM are deemed to be acting in concert due to the relationship agreement between the parties entered into in the context of the IPO.

CEVA has further been informed that CMA CGM entered into a derivative transaction related to the shares of CEVA  with cash settlement (Total Return Swap) giving CMA CGM an additional economic exposure of 4.56 per cent in CEVA Logistics’ share capital. 

A formal disclosure notice disclosing the combined shareholdings of the group is expected to be published simultaneously.

The duty to launch a mandatory takeover offer is triggered only if a shareholder holds a position in shares of more than one third of the voting rights of a company.

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