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...Flush with pandemic cash, Saadé has taken CMA CGM on a quick-fire, roughly €35bn acquisition spree, with the aim of diversifying into logistics to cushion the group from shipping’s boom-and-bust cycles....
...CMA CGM, which made the offer through its Ceva logistics subsidiary, originally offered 450p a share for Wincanton on January 19....
...French shipping specialist CMA CGM has agreed to buy Wincanton in a deal that values the British delivery and warehousing company’s equity at £765mn....
...Logistics now account for 15 per cent of CMA CGM’s core profits, compared with under 4 per cent a year earlier....
...CMA CGM’s bid for Wincanton was made by its subsidiary Ceva Logistics, a logistics company that it acquired in 2019....
...The Wincanton board has recommended that shareholders accept the improved CMA CGM bid....
...The 54-year old has set the family-owned CMA-CGM on an acquisition spree since it made windfall profits during the Covid-19 pandemic with the twin aims of diversifying the group into logistics so as to offset...
...Logistics accounted for roughly 45 per cent of CMA CGM’s revenues, Saadé said, although the group is yet to close its €5bn acquisition of the logistics business of French billionaire Vincent Bolloré....
...Under its original attempts, some potential clients were hard to entice because CMA CGM was proposing its services to logistics companies it was also competing with through its own divisions such as CEVA...
...group CMA CGM....
...French container shipping giant CMA-CGM has made an initial offer to buy the logistics business of Bolloré Group at an enterprise value of €5bn as it continues an acquisition spree using windfall profits...
...Rodolphe Saadé, owner and chair of the Marseille-based company, said the CMA CGM’s schedules were being hit because of rerouting, delays waiting for Red Sea passage and build-ups at ports....
...And in February, logistics group Wincanton left French suitor CMA CGM at the altar, preferring instead to recommend a £762mn offer from GXO....
...Kristoffersen rejected the idea of sailing through the danger area with a naval escort for protection, as French container line CMA CGM has done....
...CMA CGM has already done four acquisitions of logistics companies since 2018, and also bought a minority stake in Air France in 2022 to move into air freight....
...French container shipping magnate pivots to media Rodolphe Saadé, the head of French container shipping giant CMA CGM, has long shunned the limelight at the helm of his family-owned company in Marseille...
...German company Hapag-Lloyd diverted all ships on Monday to go via the Cape of Good Hope, MSC decided on Friday to reroute some of its services and Marseille-based CMA CGM is taking similar action....
...Nine of the 26 attacks on vessels since November 19 have targeted the biggest, highest-profile container ships owned by the world’s three biggest lines, Maersk, MSC, and CMA CGM....
...CGM abandons bidding for UK logistics specialist Wincanton (FT) UK’s IWG to report in dollars as it weighs US listing (FT) UK telecoms specialist Spirent agrees to £1bn takeover offer from US rival (FT...
...Almost all of the world’s largest container shipping lines including MSC, AP Møller-Maersk and CMA CGM are no longer sending vessels through the Red Sea that goes to and from the Suez Canal, while oil majors...
...Like its rivals, CMA CGM has been using the cash amassed during the boom to fund an acquisition spree....
...Within two years, other big players such as France’s CMA CGM, China’s Cosco and German liner Hapag-Lloyd had struck similar deals....
...CMA CGM’s improving finances had pushed it to speed up a plan to transform itself into a broader logistics company, Saadé said....
...Rodolphe Saadé, chief executive of CMA-CGM, told the Financial Times in early March that it could take “five or 10 years” for India and south-east Asia to build terminals for large ships and “play a different...
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