Turkey's giant company is being sold to the French.

27.04.2025 16:10

A contract has been signed between Borusan Supply Chain Solutions and Technology Inc., a subsidiary of Borusan companies, and the French maritime giant CMA CGM's subsidiary CEVA Logistics for the sale of 440 million dollars. The sales process will be completed after the approval of the Competition Authority.

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Borusan Holding has signed a share transfer agreement for the sale of Borusan Supply Chain Solutions and Technology Inc. to CEVA Logistics, a subsidiary of the CMA CGM Group.

ALL SHARES HAVE BEEN TRANSFERRED

According to a statement from the Holding, information regarding the share transfer was published on the Public Disclosure Platform (KAP). Accordingly, all shares of Borusan Supply, in which Borusan Investment holds a 30.53% and Borusan Holding holds a 69.47% stake, have been transferred to CEVA Logistics.

440 MILLION DOLLARS WILL BE PAID

Another company of the Borusan Group operating in the logistics sector, Borusan Port, will continue its operations within the Borusan Group. The transfer fee has been determined as 440 million dollars, to be paid in cash to the relevant shareholder in proportion to their share at closing, subject to normal net cash and working capital adjustments. The share transfer process will be completed after the approval of the Competition Authority.

CEVA Logistics, which serves in over 1,500 facilities in more than 170 countries with approximately 110,000 employees, had announced its 2024 revenue as 18.3 billion dollars. The company operates in the fields of maritime, land, air, and logistics solutions as a subsidiary of the CMA CGM Group.

CEO KAFADAR: WE HAVE INITIATED THE TRANSFER PROCESS

In the statement, Borusan Group CEO Erkan Kafadar emphasized that Borusan Supply, which is among the leading companies in the logistics sector, has a deep-rooted history. Kafadar stated, "We have initiated the transfer process of Borusan Supply, one of our investments that adds value to our country and the sector, to CEVA Logistics, a group that offers global and integrated logistics services. It is a great pride for us that our company, which we established 52 years ago to meet our group's logistics needs, will soon become a player on the global stage."

Kafadar noted that they consider this process as a strong indicator of confidence in Turkey beyond a company transfer, and expressed that the Borusan Group will continue its contributions to the national economy and social development with new investments.

A STATEMENT ALSO CAME FROM CEVA'S CEO

Mathieu Friedberg, CEO of CEVA Logistics, stated that as one of the five largest logistics players in the world, they see Turkey as one of the strategic markets where they aim to grow significantly. Friedberg said, "Completing our existing presence in Turkey with the esteemed expertise and operations of Borusan Supply will allow us to offer higher value to our combined customer portfolio and, as a result, enable us to grow faster in the market organically. As CEVA, we aim to become larger, smarter, and stronger, achieving the capacity for faster growth."