March 14, 2019 / 6:26 AM / 3 months ago

CMA CGM controls 89.5 pct of Ceva Logistics after tender

ZURICH, March 14 (Reuters) - French shipping group CMA CGM controls just under 89.5 percent of the voting rights in Swiss group Ceva Logistics after a tender offer, according to provisional results announced on Thursday.

CMA CGM’s public tender offer of 30 Swiss francs per share values Ceva at 1.67 billion Swiss francs ($1.66 billion), a price agreed after Ceva rejected a takeover bid in October from Danish freight firm DSV.

An additional acceptance period will start on March 20 and run until April 2. ($1 = 1.0044 Swiss francs) (Reporting by Michael Shields Editing by Riham Alkousaa)

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