French shipping group CMA CGM, through its subsidiary Ceva Logistics, has signed an agreement to acquire Turkish logistics company Borusan Tedarik Zinciri Çözümleri ve Teknoloji A.Ş., owned by the Borusan conglomerate. The deal is valued at $440 million, subject to working capital adjustments.
The deal is part of CMA CGM’s strategy to expand its presence in Turkey, one of the company’s priority markets. Ceva Logistics notes that it expects significant growth here and sees the acquisition of Borusan Logistics as an important step in strengthening its logistics chains in the region.
The final closing of the transaction is expected after regulatory approval. Ceva Logistics, which has been under the management of CMA CGM since 2019, has been actively expanding its presence in the logistics sector, having previously integrated such players as Ingram Micro CLS, GEFCO and Bolloré Logistics.