CMA CGM to Buy Auto Logistics Firm Gefco

© Sebastian / Adobe Stock

© Sebastian/ Adobe Stock

Shipping team CMA CGM is readied to purchase vehicle transportation business Gefco, French paper Les Echos reported on Friday, mentioning resources near the issue.

CMA CGM decreased to comment.

Gefco, in which French-Italian carmaker Stellantis holds a 25% risk, will certainly be valued at 450 to 500 million euros in the offer, the paper claimed.

Auto transportation business Gefco, co-owned by French-Italian carmaker Stellantis, claimed on Friday it will certainly redeem the 75% of its shares that are held by Russian Railways (RZD) after it was positioned under western assents.

(Reuters – Reporting by Tassilo HummelEditing by Sudip Kar-Gupta)

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