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CMA
CGM Group said the acquisition will triple the size of its own
logistics arm, CEVA Logistics and help build its presence as a
contract logistics provider in North America.
In 2025, CMA CGM pledged to invest $20 billion in its U.S.
warehousing, air cargo and logistics over four years.
The two companies said they expected to enter into multiyear air
and ocean freight commercial agreements as well.
Rodolphe Saadé, CEO of CMA CGM Group, said the deal will
"reinforce our long-term commitment to investing in the United
States and supporting the resilience and efficiency of its
supply chain.”
FedEx, based in Memphis, Tennessee, has been spinning off some
businesses to focus on its delivery business, focusing on
higher-margin business-to-business deliveries for the
healthcare, automotive, aerospace and data center industries. It
completed its spinoff of FedEx Freight, which transports heavy
and bulky shipments, on June 1.
The acquisition is expected to close later this year, subject to
regulatory approvals.
The air cargo and ocean freight deals are expected to be ironed
out in different phases between 2026 and 2028.
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