CEVA Logistics AG

IFBC was engaged by the board of directors of CEVA Logistics AG to prepare an Expert Opinion assessing the public tender offer made by CMA CGM S.A. from a financial point of view. Since the shares of CEVA Logistics AG shall remain listed after the public tender offer, the board of directors of CEVA Logistics AG has decided to prepare an Expert Opinion. This report differs from a traditional Fairness Opinion in terms of transparency, plausibility and comprehensibility. CEVA Logistics AG is one of the world’s leading third-party logistics companies, offering a broad spectrum of services in both contract logistics and freight management. CEVA Logistics AG is listed on the SIX Swiss Exchange and had a market capitalization as of January 2019 of CHF 1.7 billion.