CMA CGM subsidiary closes acquisition of Borusan Tedarik: CEVA Logistics — a subsidiary of France-based shipping giant CMA CGM — has finalized its full acquisition of logistics and supply chain solutions firm Borusan Tedarik for USD 383 mn, according to a press release. The transaction earned all regulatory approvals before closing.

A different closing figure: CEVA Logistics previously signed an agreement with Turkish firm Borusan Holding to fully acquire Borusan Tedarik for USD 440 mn lastApril — a markedly larger figure than the one confirmed in the latest announcement. The transaction entails CEVA taking over Borusan Tedarik’s subsidiaries across Germany, Bulgaria, Hong Kong, and China.

A plus for CEVA: The acquisition is expected to increase CEVA Logistics’ warehousing and distribution capacity in Turkey by adding nearly 570k sqm to its current 620k sqm warehouse space. CEVA’s ocean capacity will also increase by 25%, and its air capabilities will be among the top five in Turkey, while ground transports are expected to hit nearly 1 mn trips domestically per year. Activities relating to Borusan Port will remain under the ownership of Borusan Holding.

About Borusan Tedarik: The supply chain solutions firm Borusan Tedarik is the leading entity behind Borusan Lojistik, which was minted in 2000 as an integrated logistics player. The company provides domestic and global logistics services, including finished vehicle logistics, contract logistics, ground transport, and air and sea freight solutions. The brand is behind the eTA platform, which is an online marketplace that connects shippers (cargo owners) directly with truck/trailer drivers.

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