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CMA CGM to Acquire Borusan’s Logistics Division for $440mn
April 28, 2025
French shipping company CMA CGM, through its subsidiary CEVA Corporate Services, has agreed to acquire Turkish conglomerate Borusan’s logistics division, Borusan Tedarik for $440mn. The transaction is subject to regulatory approvals. Borusan Tedarik operates Turkey’s largest port in Gemlik, with an annual capacity to handle 1,500 ships and approximately 400,000 twenty-foot equivalent units (TEUs). This acquisition is expected to nearly double CEVA’s warehousing and distribution capacity in Turkey, adding 570,000 sq m to its existing 620,000 sq m. It will also enhance CEVA’s domestic ground transport services, aiming to handle nearly 1mn annual shipments. The deal is set to strengthen CEVA’s connections with European markets and boost its position in the Turkish logistics sector. Additionally, the acquisition is anticipated to expand CEVA’s ocean freight capacity by 25%.
CMA CGM’s EUR 5.5% 2029s were trading steady at 103.12, yielding 4.67%.
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