CEVA Logistics announces increase in CMA CGM stake
CEVA Logistics AG announces that CMA CGM S.A. (“CMA CGM”) has purchased shares of the Company during the last few days so that the group consisting of the Company and CMA CGM currently holds a participation of 33% in the Company’s shares. The Company and CMA CGM are deemed to be acting in concert due to the relationship agreement between the parties entered into in the context of the IPO.
The Company has further been informed that CMA CGM entered into a derivative transaction related to the shares of the Company with cash settlement (Total Return Swap) giving CMA CGM an additional economic exposure of 4.56% in CEVA Logistics’ share capital. A formal disclosure notice disclosing the combined shareholdings of the group is expected to be published simultaneously.
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.
Source: CEVA Logistics