November 26, 2018 / 6:09 AM / 14 days ago

BRIEF-Ceva Logistics Upgrades 2021 Expectations And Buys CMA CGM Log

Nov 26 (Reuters) - CEVA LOGISTICS AG:

* UPGRADES ITS 2021 EXPECTATIONS. STRATEGIC PARTNERSHIP WITH CMA CGM - ACQUISITION OF CMA CGM LOG

* SEES 2021 REVENUE TARGET ABOVE US$ 9 BILLION

* 2021 ADJUSTED EBITDA RAISED FROM US$ 380 MILLION TO US$ 470-490 MILLION

* ACQUISITION OF CMA CGM LOG FOR US$ 105 MILLION (CASH FREE/DEBT FREE) PAID IN CASH

* APPOINTS NICOLAS SARTINI AS CHIEF OPERATING OFFICER AND DEPUTY CEO AS OF 1 JANUARY, 2019 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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