July 11, 2018 / 5:10 AM / 4 months ago

BRIEF-CMA CGM receives regulatory approvals for its investment in CEVA

July 11 (Reuters) - CEVA Logistics AG/CMA CGM:

* CMA CGM S.A. has obtained all regulatory approvals required in connection with its investment in CEVA and will become a regular 24.99% shareholder in CEVA.

* CMA CGM has entered into alock-up agreement for one year following the IPO and has agreed not to increase its shareholding in CEVA for six months post-IPO

* CMA CGM, which is controlled by the Saade family and is one of the world's biggest container lines, has said the stake would complement its existing maritime transport businesses.

* CMA CGM acquired Singapore-based APL line in 2016 and was part of last year's launch of vessel-sharing partnership Ocean Alliance with Asian firms.

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