07 May 2018 I Deals and Cases

Bär & Karrer Advises CEVA Logistics on its IPO, the anchor investment by CMA CGM and its migration to Switzerland

CEVA Logistics, one of the world's leading third-party logistics companies, successfully priced its IPO and listed its shares on the SIX Swiss Exchange, where trading commenced on 4 May 2018. With a market capitalization of CHF 1.6 billion and generating gross proceeds of CHF 821 million, this is so far considered as the largest IPO on the SIX Swiss Exchange for 2018. In addition, CMA CGM, the third largest container shipping group in the world, has committed to make a strategic cornerstone investment in CEVA Logistics by purchasing CHF 379 million of mandatory convertible securities which will convert into shares of CEVA Logistics once certain regulatory approvals have been obtained. Simultaneously with the IPO, CEVA Holdings, the former holding company of the CEVA group, migrated from the Marshall Islands to Switzerland by way of a cross-border merger with CEVA Logistic as the surviving company.

Bär & Karrer advises CEVA Logistics in this transaction. The team includes Ralph Malacrida, Thomas U. Reutter, Roland Truffer, Alexander von Jeinsen, Daniel Raun, Joanna Long, Stefanie Walch, Manuela Cassano and Carlo Hunter (all Capital Markets), Michael Trippel, Michael Rohrer and Valentina Eichin (Corporate), Dieter Dubs (Listed Companies) as well as Susanne Schreiber, Hanna Jost and Ruth Bloch-Riemer (Tax).