Borusan Sells Logistics Arm to CMA CGM for $440 Million

3 days ago

Borusan plans to sell its logistics division for $440 million.
The acquisition will expand Ceva Logistics' operations in Turkey.
This strategic move targets growth in the automotive logistics industry.

Borusan's Strategic Divestment

In a strategic move to streamline operations, Borusan is poised to sell its logistics division to the French shipping giant CMA CGM Group. The $440 million deal represents a significant development in the logistics sector, particularly enhancing Ceva Logistics' footprint in Turkey.

Expansion of Ceva Logistics in Turkey

This acquisition is set to nearly double Ceva Logistics' warehousing capacity in the region, marking a substantial upgrade in its capabilities. As a key player in the logistics field, Ceva aims to leverage this expansion to bolster its services, specifically in the automotive sector, where demand for efficient logistics solutions is on the rise.

Boost to Automotive Sector Operations

The focus on the automotive industry underscores the strategic intent behind this acquisition. By integrating Borusan's logistics assets, Ceva Logistics aims to deliver enhanced operational efficiency and service quality. This move is anticipated to strengthen its competitive edge and foster growth in an increasingly dynamic market.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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