Automotive
CMA CGM To Acquire GEFCO
This Russia state-owned asset yard sale brought to you by sanctions?
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The French shipping company, CMA CGM, announced they would acquire the Russian automotive logistics firm GEFCO, pending competition authority approval. The European Commission expects to approve the estimated $488M deal within a few months.
GEFCO.
- 75% controlled by state-owned Russian Railways.
- 25% owned by carmaker Stellantis.
- Employees 11,500 people in 47 European countries.