CMA CGM Group buys GEFCO
French shipping group CMA CGM is acquiring nearly 100% of GEFCO, a European leader in automotive logistics and international expert in multimodal supply chain. The acquisition has been submitted to competition authorities for approval, according to a statement from CMA CGM. "As part of a special procedure, the European Commission has authorised CMA CGM to acquire the capital of GEFCO immediately, pending the final approval that will take place in the coming months. The acquisition will strengthen the range of logistics services that CEVA Logistics, CMA CGM's logistics subsidiary, provides to its customers, especially in France and the rest of Europe."