It was understood that CEVA Corporate Services, a subsidiary of CMA CGM, a French shipping giant and the world's third-largest container shipping company, has recently signed an agreement for USD 440 million to acquire Borusan Tedarik Zinciri Cozumleri ve Teknoloji, a logistics subsidiary of Turkey's Borusan Group. Currently, the transaction is awaiting approval from competition authorities and other relevant regulatory authorities.

CEVA, headquartered in Marseille, France, provides a wide range of one-stop integrated logistics services in more than 1,500 terminals in up to 170 countries and regions around the world, including end-to-end contract logistics as well as air, sea, land, and finished vehicle transportation. The acquisition of Borusan Tedarik will not only nearly double CEVA's warehousing and distribution capabilities in Turkey but also expect to expand its ocean shipping capabilities by 25% and make its air freight business among the top five in Turkey. In addition, Borusan Tedarik's strong relationships in the automotive industry will also help CEVA's finished vehicle logistics (FVL) business rank among the top three in the Turkish domestic market.