March 19, 2019 / 6:19 AM / 6 months ago

CEVA Logistics due for delisting amid CMA CGM squeeze out

ZURICH, March 19 (Reuters) - Swiss freight forwarder CEVA Logistics said French shipper CMA CGM holds 89.47 percent of its shares after a public tender, clearing the way for a squeeze out of shareholders and a delisting from Switzerland's exchange.

"CMA considers that it will likely hold after the settlement a percentage of the share capital and voting rights of CEVA that allow CMA to implement a squeeze-out merger or a squeeze-out...and apply for a delisting of the CEVA Shares from SIX Swiss Exchange," the companies said in a statement on Tuesday.

Reporting by John Miller

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