CMA CGM has increased its shareholding in CEVA Logistics to 33 per cent following the failure of DSV’s bid for the CEVA business.
CEVA rejected a CHF 27.75 per share offer from DSV last week saying that it significantly undervalued the business.
In the light of the bid, CEVA agreed that shipping line CMA CGM, its largest shareholder, could increase its stake from 24.99 per cent to 33 per cent.
It said 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.
