FedEx sells supply chain unit to CMA CGM for $1.4B
CMA CGM Group has agreed to acquire FedEx's contract logistics unit for $1.4 billion to expand its North American warehouse and logistics footprint. The deal includes multi-year commercial agreements for air and ocean freight cooperation between the two companies.
Why it matters
This acquisition signals a major consolidation in the global logistics industry as shipping giants seek to control end-to-end supply chain data and capacity.
France-based container shipping and logistic giant CMA CGM Group has agreed to acquire FedEx Supply Chain, the contract logistics arm of FedEx Corp., for $1.4 billion in enterprise value, the companies announced on Wednesday. The acquisition, expected to close later this year, would nearly triple the size of the North American contract logistics operations of Ceva Logistics, a subsidiary of CMA CGM.
The report provides a straightforward business account of a corporate acquisition without emotive language.
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