French Shipping Company CMA CGM to Buy FedEx Supply Chain for $1.4 Billion
French shipping giant CMA CGM is acquiring FedEx Supply Chain for $1.4 billion to expand its North American logistics footprint.
📍 The outcome
CMA CGM Group reached a deal to acquire FedEx Supply Chain for $1.4 billion. The acquisition of the logistics unit was intended to strengthen CMA CGM's presence in North America and involve collaboration on airfreight.
Epilogue added 44d ago, after coverage quieted.
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What happened
CMA CGM Group has reached a deal to purchase the FedEx Supply Chain logistics unit. The acquisition is valued at an enterprise value of $1.4 billion.
Coverage from the Financial Times, Wall Street Journal, and Reuters, as well as official statements from the CMA CGM Group, emphasizes the move as a means for the French company to strengthen its logistics presence in North America. Future developments depend on the finalization of the deal as CMA CGM integrates the FedEx subsidiary into its existing operations.
Synthesized by Newsylist from the headlines below under a strict no-invention contract. ✓ fact-checked: all claims supported by sources Updated 47d ago.
Who reported it (13)
- CMA CGM to acquire FedEx Supply Chain and collaborate on airfreight Air Cargo News · 47d ago
- Pittsburgh-based FedEx Supply Chain to be acquired for $1.4 billion The Business Journals · 47d ago
- Comment CMA CGM buys large chunk of FedEx Logistics to shore up Ceva The Loadstar · 47d ago
- FedEx to sell subsidiary to French shipping company for $1.4B Action News 5 · 47d ago
- CMA CGM to buy FedEx third-party logistics arm for $1.4 billion Reuters · 47d ago
- CMA CGM Group to Acquire FedEx Supply Chain at an Enterprise Value of $1.4 billion, Strengthening Its Logistics Presence in North America CEVA Logistics · 47d ago
- FedEx sells supply chain unit to CMA CGM for $1.4B FreightWaves · 47d ago
- French shipping company CMA CGM Group to buy FedEx’ logistics arm for $1.4B AP News · 47d ago
- FedEx strikes $1.4bn deal to sell logistics unit to CMA CGM Financial Times · 47d ago
- CMA CGM Group to Acquire FedEx Supply Chain at an Enterprise Value of $1.4 billion, Strengthening Its Logistics Presence in North America cmacgm-group.com · 47d ago
- FedEx to sell subsidiary to French shipping company for $1.4B Action News 5 · 47d ago
- CMA CGM nears $1.4 billion deal for FedEx logistics unit, FT reports Reuters · 47d ago
- French Shipping Company CMA CGM to Buy FedEx Supply Chain for $1.4 Billion WSJ · 47d ago broke it first
Questions people are asking
How much is CMA CGM paying for FedEx Supply Chain?
The deal is valued at $1.4 billion.
What is the primary goal of this acquisition?
According to the CMA CGM Group, the purchase is intended to strengthen the company's logistics presence in North America.
Which company is selling the logistics unit?
FedEx is selling its Supply Chain subsidiary.
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