Key facts
- CMA CGM has agreed to acquire FedEx's third-party logistics business.
- The enterprise value of the deal is $1.4 billion.
- CMA CGM will be the preferred ocean carrier for FedEx.
- The companies will collaborate on air cargo.
French container shipping group CMA CGM has agreed to acquire FedEx's third-party logistics business for an enterprise value of $1.4 billion. The deal marks an expansion for CMA CGM into the logistics sector and strengthens its presence in the United States. As part of the agreement, CMA CGM will become the preferred ocean carrier for FedEx, and the two companies will collaborate on air cargo operations. The acquisition was initially reported by the Financial Times, citing sources familiar with the matter.