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Borusan plans to sell its logistics division for $440 million.
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The acquisition will expand Ceva Logistics’ operations in Turkey.
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This strategic move targets growth in the automotive logistics industry.
French shipping company CMA CGM’s subsidiary CEVA Corporate Services signed an agreement to acquire the logistics arm of Turkish conglomerate Borusan, Borusan Tedarik Zinciri Cozumleri ve Teknoloji, for $440 million, according to a filing by
Borusan Yatirim stated in the exchange filing that the price is subject to “ordinary net cash and working capital adjustments,” adding that the deal was subject to approval from competition authorities and other relevant regulatory bodies.
Largest port in Turkey’s manufacturing hub of Gemlik
Borusan Tedarik operates the largest port in Turkey’s manufacturing hub of Gemlik, with an annual capacity to handle 1,500 ships and around 400,000 twenty-foot containers (TEU), a standard measure for shipping containers.The port serves as a critical logistics hub, supporting Turkey’s industrial and trade activities.
CMA CGM’s strategy
The acquisition aligns with CMA CGM’s strategy to expand its logistics footprint in key markets. CEVA Corporate Services, a part of CMA CGM Group, specializes in end-to-end supply chain solutions, and this deal strengthens its presence in the Eastern Mediterranean region.
Restructuring its portfolio
Borusan, on the other hand, has been focusing on restructuring its portfolio, divesting non-core assets to streamline operations.
The global logistics sector
This deal follows a trend of consolidation in the global logistics sector, where major players are acquiring regional operators to enhance their supply chain networks amid rising demand for efficient freight and port services.
Borusan Group has been a key player in Turkey’s industrial
It is noteworthy that In 2024, CMA CGM reported revenues of $55 billion, reflecting its aggressive expansion strategy, while Borusan Group has been a key player in Turkey’s industrial landscape with interests spanning steel, energy, and logistics.
