A share transfer agreement has been signed with CEVA Logistics for Borusan Tedarik

A binding agreement has been signed for the sale of Borusan Tedarik Zinciri Çözümleri ve Teknoloji Anonim Şirketi, a Borusan Group company, to CEVA Logistics, a subsidiary of CMA CGM Group.

In the statement made by Borusan Yatırım to the Public Disclosure Platform, a binding agreement has been signed for the sale of 100 percent shares of Borusan Tedarik, in which Borusan Yatırım holds 30.53 percent and Borusan Holding holds 69.47 percent shares, to CEVA Logistics. In the share transfer agreement, the total transfer price has been determined as USD 440.000.000, to be paid in cash to the relevant shareholder in proportion to its share at the closing, subject to ordinary net cash and working capital adjustments. The share transfer process is expected to be finalized upon approval by the Turkish Competition Authority.

CEVA Logistics, a world leader in third-party logistics, offers a broad range of end-to-end, customized solutions in contract logistics and air, ocean, ground and finished vehicle transport in 170 countries worldwide thanks to its approximately 110,000 employees at more than 1,500 facilities. With 2024 revenue of USD18.3 billion, CEVA Logistics is part of the CMA CGM Group, a global player in sea, land, air and logistics solutions.

 “We will continue contributing to Turkiye’s economic and social development through new investments.”

Emphasizing the longstanding legacy and industry leadership of Borusan Tedarik, Borusan Grup CEO Erkan Kafadar stated: “We have initiated the transfer process of Borusan Tedarik—one of our investments that adds significant value to our country and sector—to CEVA Logistics, a global provider of integrated logistics services. Founded 52 years ago to meet the internal logistics needs of our Group, the company’s evolution into a global player is a source of immense pride for us. We consider this transaction not only as a business deal but also as a strong expression of international trust in Turkiye. As Borusan Group, operating under a dynamic portfolio strategy, we will continue to contribute to the economic and social development of our country through new investments.”

Mathieu Friedberg, CEO, CEVA Logistics, said: “As a Top 5 global logistics player, we have identified Turkiye as one of our strategic geographies where we expect to grow significantly. Complementing our existing presence in Turkey with the reputable experts and operations of Borusan Tedarik would put us in a position to offer even greater value to our combined customers and, as a result, grow faster than the market organically. CEVA is becoming bigger, stronger and smarter, so that we can then grow faster.”

Borusan Port, another logistics company within Borusan Group, will continue its operations under the Group structure.