CMA CGM subsidiary CEVA Logistics takes over Stellar Value Chain Solutions
CEVA Logistics, a wholly owned unit of Marseille, France-based CMA CGM Group, which runs the world’s third biggest container line, acquires Stellar Value Chain Solutions.
CEVA will acquire 96 percent of Mumbai-based Stellar, founded in 2016 by Anshuman Singh, from an affiliate of private equity firm Warburg Pincus and other shareholders.
This is a tale of stellar performance of two companies and how they are coming together to create a formidable name in global logistics. While CEVA traces its origin to 1946 with several changes in ownership in its 77-year-old history, Stellar is a new kid on the block with global ambitions.