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Shipping group CMA CGM to buy auto logistics firm Gefco - Les Echos

Shipping group CMA CGM to buy auto logistics firm Gefco - Les Echos
Shipping group CMA CGM to buy auto logistics firm Gefco - Les Echos   -   Copyright  Thomson Reuters 2022
By Reuters

PARIS – Shipping group CMACGM is set to buy auto transport company Gefco, French paper Les Echos reported on Friday, citing sources close to the matter.

CMACGM declined to comment.

Gefco, in which French-Italian carmaker Stellantis holds a 25% stake, will be valued at 450 to 500 million euros in the deal, the paper said.

Auto transport company Gefco, co-owned by French-Italian carmaker Stellantis, said on Friday it will buy back the 75% of its shares that are held by Russian Railways (RZD) after it was placed under western sanctions.