CMA CGM to fully acquire Borusan Tedarik: CEVA Logistics — a subsidiary of France-based shipping giant CMA CGM — has inked a USD 440 mn agreement with Turkish firm Borusan Holding to acquire 100% of its logistics and supply chain solutions firm Borusan Tedarik, according to a statement published on Friday. The transaction will also see CEVA uptake Borusan Tedarik’s subsidiaries in Germany, Bulgaria, Hong Kong, and China.

Almost there: The acquisition is still pending customary closing conditions and regulatory approvals. The transaction will also be subject to ordinary net cash and working capital adjustments.

Current ownership structure: Privately-held Borusan Holding owns 69.5% of Borusan Tedarik’s shares, while the remaining 30.5% is held by the company’s publicly traded investment arm Borusan Yatırım.

A boon for CEVA: The acquisition would enable CEVA to double its Turkey warehousing and distribution capacity by adding nearly 570k sqm on top of its current 620k sqm warehouse space. CEVA’s ocean capacity will also increase by 25%, while air capabilities will be in the top five in Turkey. Meanwhile, ground transports are expected to hit nearly 1 mn trips domestically per year.

CMA CGM has been busy in the region: CMA CGM secured a 35% stake in Egypt’s 6 October dry port earlier this month. The company’s subsidiary CEVA also inked an agreement with Saudi Arabia’s Almajdouie Logistics in October 2024 to form a joint venture to boost logistics and transport services in the Kingdom.

About Borusan Tedarik: The supply chain solutions firm offers domestic and global logistics services, including finished vehicle logistics, contract logistics, ground transport, and air and sea freight solutions.

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