Ceva Logistics, a subsidiary of the CMA CGM Group, signed a binding agreement to acquire 100 percent of Borusan Tedarik Zinciri Çözümleri ve Teknoloji Anonim Şirketi, which is based in Türkiye.
The signed share transfer agreement lists a total transfer price of USD440 million subject to ordinary net cash and working capital adjustments. The deal, which includes Borusan Tedarik subsidiaries in Germany, Bulgaria, Hong Kong and China, remains subject to customary closing conditions and regulatory approvals.
Borusan Tedarik offers a wide range of logistics services in Türkiye, including contract logistics, finished vehicle logistics (FVL), full truckload (FTL) and less than truckload (LTL) ground transport, as well as air and ocean freight and customs. It has roughly 4,000 employees and had a 2024 turnover of USD567 million.
Mathieu Friedberg, ceo at Ceva Logistics, said: “As a top five global logistics player, we have identified Turkey as one of our strategic geographies where we expect to grow significantly.”
Earlier this month, HLPFI reported that Ceva had added to its China-US air services.
