FedEx Offloads Contract Logistics Unit in $1.4 Billion CMA CGM Deal

CMA CGM has acquired the contract logistics unit from FedEx in a transaction valued at $1.4 billion. As part of this strategic move, CMA CGM has appointed Moebel, a former FedEx executive, to lead Ceva Logistics. This deal allows FedEx to offload its contract logistics operations while CMA CGM expands its logistics capabilities through the integration of the acquired unit and the leadership of Moebel to steer Ceva Logistics forward.