CMA CGM buys FedEx logistics arm in $1.4bn US push

AI Summary

French shipping and logistics company CMA CGM announced the $1.4 billion acquisition of FedEx Supply Chain, expanding its contract logistics presence significantly in North America. This deal enhances CMA CGM's CEVA Logistics platform as part of its growth strategy.

French liner and logistics giant CMA CGM has agreed to acquire FedEx Supply Chain in a $1.4bn deal, adding another large bolt-on to its CEVA Logistics platform. The deal will give the Marseille-based group a much bigger contract logistics footprint in North America, a market it has been targeting as part of its push beyond …