CEVA Logistics broadens strategic partnership with CMA CGM - CMA CGM will provide exit option to shareholders Donnerstag, 25. Oktober 2018 - 07:04

CEVA Logistics AG / Key word(s): Miscellaneous
CEVA Logistics broadens strategic partnership with CMA CGM - CMA CGM will
provide exit option to shareholders

25-Oct-2018 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

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CEVA Logistics broadens strategic partnership with CMA CGM - CMA CGM will
provide exit option to shareholders

Baar, Switzerland, 25 October, 2018 - The Board of Directors of CEVA
Logistics AG announces that it will broaden the partnership with CMA CGM
S.A. ("CMA CGM"), its major shareholder and strategic partner. As part of
this initiative, CEVA Logistics will acquire the freight management business
of CMA CGM. Furthermore, the Board of CEVA Logistics has agreed with CMA
CGM, that CMA CGM will offer to CEVA Logistics' shareholders wishing to exit
their investment in CEVA Logistics to purchase their shares for CHF 30.00
per share. The Board of Directors of CEVA Logistics unanimously believes
that the partnership with CMA CGM will provide an attractive value
proposition to shareholders in the mid and long term. CEVA Logistics and CMA
CGM have agreed that CEVA Logistics will remain a listed company with an
arm's length business relationship with CMA CGM.

CEVA Logistics and CMA CGM are convinced of the substantial growth and value
creation potential of this joint industrial project and future strategic
collaboration. The industrial project between CEVA Logistics and CMA will
generate new commercial opportunities supported by an investment in digital
transformation and further increased operational efficiency to deliver a
strong and sustainable value creation to shareholders and customers.

As part of the broadened partnership, CEVA Logistics has agreed to purchase
CMA CGM's freight management business at a price to be agreed upon (failing
agreement to be determined by an independent appraisal) for cash or shares.
CMA CGM's freight management business is a highly synergetic addition to
CEVA Logistics.

CEVA Logistics shareholders with a preference for a short term exit will be
provided with an alternative of CHF 30.00 per share in cash. This exit
alternative will be provided in the form of a tender offer by CMA CGM which
is open to all shareholders. CMA CGM is contractually obliged to formally
publish the offer by means of a pre-announcement at the latest on 30
November 2018.

As a condition for CMA CGM agreeing to transfer to CEVA Logistics its
freight management business and its obligation to offer an exit option to
shareholders at CHF 30.00 per share, the Board of Directors of CEVA
Logistics AG has agreed that CMA CGM's tender obligation in case of a third
party offer is waived with immediate effect, but shall be reinstalled if the
offer of CMA CGM is not carried out as agreed.

CEVA Logistics will provide further details in connection with the
announcement of its Q3 2018 results and in connection with the publication
of its response statement (Board Report) to the tender offer prospectus by
CMA CGM, setting out the details and financial impact of its new long-term
business plan resulting from this partnership.

For additional information please contact:

Investors:
Pierre Benaich
SVP Investor Relations
pierre.benaich@cevalogistics.com
+41 41 547 0048

Media:
Matthias Hochuli
Group Head of Marketing and Communications
matthias.hochuli@cevalogistics.com
+41 41 547 00 52

Cathy Howe
Pilot Marketing
ch@pilotmarketing.co.uk
Tel: +44 (0)208 941 5381


CEVA - Making business flow
CEVA Logistics, a global asset-light third-party logistics company, designs
and operates industry leading supply-chain solutions for large and
medium-size national and multinational companies. Its integrated network in
Freight Management and Contract Logistics spans more than 160 countries.
Approximately 56,000 employees are dedicated to delivering effective
solutions across a variety of industry sectors where CEVA applies its
operational expertise to provide best-in-class services. CEVA generated
revenue of $7 billion and adjusted EBITDA of $280 million in 2017. CEVA
Logistics is listed on SIX Swiss Exchange under ticker symbol CEVA. For more
information, please visit www.cevalogistics.com.


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End of ad hoc announcement

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