Expert Opinion for the public tender offer of CMA CGM S.A. to the shareholders of CEVA Logistics AG

Expert Opinion for the public tender offer of CMA CGM S.A. to the shareholders of CEVA Logistics AG

On 25 October 2018, CEVA Logistics AG (“CEVA”) and CMA CGM S.A. (“CMA CGM”) announced its intention to expand its strategic partnership. Part of the transaction agreement was among others a public tender offer by CMA CGM to the shareholders of CEVA of CHF 30 per share.

 

The offer prospectus for the public tender offer was published on 28 January 2019. In the prospectus, the CEVA Board of Directors made a recommendation regarding CMA CGM’s purchase offer. This recommendation was based, among others, on an independent expert opinion prepared by IFBC on the financial adequacy of the public purchase offer.

 

CEVA will continue to be listed as an independent company on the SIX Swiss Exchange. For this reason, CEVA’s Board of Directors has decided to prepare an Expert Opinion that differs from a classic Fairness Opinion in terms of transparency, plausibility and traceability.

 

CEVA is one of the world’s leading logistics companies offering a wide range of Contract Logistics and Freight Management services. CEVA is listed on the SIX Swiss Exchange and had a market capitalization of CHF 1.7 billion as of January 2019.

 

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IFBC Team

info@ifbc.ch