CMA CGM denies plans to take over Ceva Logistics

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French shipping company, CMA CGM, has no plans to launch a full takeover of Ceva Logistics, the company has said.

This is after the Swiss transport company said on Thursday that it had rejected a $1.5 billion takeover offer from a third party.

CMA CGM, Ceva’s biggest shareholder with a 25 percent stake, has now been allowed to increase its holding to one third — the trigger point where it would have to launch a full takeover under Swiss regulations.

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“The end of the standstill agreement means CMA CGM now has the right to increase its shareholding in Ceva, and that is something CMA CGM will look at very closely,” a CMA CGM spokeswoman said.

“It is not CMA CGM’s intention to launch a full takeover of Ceva at this stage. They feel there is a lot of potential to be unlocked in this company, and they feel it is important Ceva has the stability to achieve its goals.”