FedEx Agrees to Sell Logistics Arm to CMA CGM for $1.4 Billion

businessmergers-acquisitions 3 posts · 3 accounts

FedEx agreed to sell its third-party logistics subsidiary to French container shipping company CMA CGM Group for an enterprise value of $1.4 billion. The transaction moves the supply chain arm to the Mediterranean Shipping Company-owned carrier, representing a significant expansion for the French group and a strategic refocus for FedEx's global network.

The sale pairs with a broader commercial cooperation between the two firms. Under a nonexclusive agreement, CMA CGM will provide ocean transport and carrier services while FedEx will contribute to select air-cargo capacity solutions.

From the sources (3 posts)

@business

FedEx said it agreed to sell a supply chain subsidiary to French container shipping company CMA CGM Group in a deal with an enterprise value of $1.4 billion

@reuters

CMA CGM to buy FedEx third-party logistics arm in $1.4 billion deal

@wsj

CMA CGM will offer ocean transport and carrier services under a nonexclusive agreement with FedEx and the companies will also work together on select air-cargo capacity solutions.

KKR Buys EDF Power Solutions North America for $4.2 Billion US crude output reaches record 13.93 million bpd as strategic reserves fall to lowest since 1983