LONDON - In a strategic expansion move, French shipping giant CMA CGM SA, under the leadership of CEO Rodolphe Saade, has acquired UK-based logistics company Wincanton Plc. The deal, valued at £566.9 million ($700 million), was executed through CMA CGM's subsidiary, CEVA Logistics, signaling the company's intent to deepen its foray into the UK grocery and consumer logistics markets.
Following the announcement, Wincanton's shares experienced a significant uptick, skyrocketing to 437 pence, which marks a 47% increase. The acquisition by CMA CGM represents a considerable expansion of its logistics operations and is indicative of the company's broader strategy to strengthen its foothold in the logistics sector, particularly within the UK. This move is expected to have substantial implications for the logistics market, as it combines Wincanton's extensive domestic network with CMA CGM's global reach.
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