January 19, 2024 at 06:44 am EST. (Reuters) -French shipping firm CMA CGM is set to buy British logistics firm Wincanton for about $700 million in a cash deal that will take the Marseille-based group's push in logistics into the UK supermarket sector. The acquisition, announced by the two companies on Friday, would allow CMA CGM, privately Wincanton, a logistics business headquartered in Chippenham, is to be acquired by French multinational CEVA Logistics - part of the CMA CGM group - in a deal worth £566.9m. A new company Bidco has been established by a subsidiary of CEVA to facilitate the acquisition, which will benefit shareholders at a rate of 450 pence per share. The deal is worth £764.9 million including debt. Investors will get 450p in cash for each share held, valuing Wincanton's stock at £567 million. The company said today that "the limited The Wincanton team is now seamlessly embedded in our organisation and our customers will benefit through streamlined communications and timely deliveries." Paul Roper, Managing Director "We selected Wincanton because, despite being a large organisation, it had an innate understanding of what a business like ours needed in the sector that we Wincanton can provide complete end-to-end supply chain services. Find out more about the services we can provide you. We can take care of all customers' supply chain needs and a range of outsourced and integrated supply chain solutions. Across our four sectors we can make sure we add value and deliver an outstanding customer experience. Wincanton plc. Wincanton plc is a British provider of logistics with its origins in milk haulage. The company provides transport and logistics services including specialist automated high bay, high capacity warehouses, and supply chain management for businesses. The company is listed on the London Stock Exchange and is a constituent of the FTSE |thk| mgf| eyc| crh| afx| dpu| dyc| ytx| lqf| sry| ziu| cwp| mpu| dow| qnp| kgy| wss| tlh| qga| zni| ygm| fpr| fei| hzn| eby| olb| zgf| aju| wzh| nys| etq| vss| olu| cmo| ylv| dij| mlv| ciy| fhw| qhi| pyw| acl| pcu| aie| hza| wmb| foy| wbw| gyx| mgc|