In the statement made by Borusan Yatırım to the Public Disclosure Platform (KAP), it was stated that an agreement was reached for the transfer of Borusan Tedarik, in which Borusan Yatırım owns 30.53% and Borusan Holding owns 69.47%, to CEVA Logistics. According to the agreement, the transfer price was determined as USD 440 million, which will be paid in cash to the shareholders after ordinary net cash and working capital adjustments on the closing date. The sale will be formalized after the approval of the Competition Board.
Borusan Limanı, Borusan Holding's other logistics company, will continue its operations under the Borusan umbrella.
Serving in more than 170 countries worldwide with 110 thousand employees, CEVA Logistics continues to offer sea, land, air transportation and integrated logistics solutions, reaching a turnover of USD 18.3 billion by 2024.
Mathieu Friedberg, CEO of CEVA Logistics, stated: "As one of the world's top 5 logistics players, we have identified Türkiye as one of our strategic markets where we are targeting significant growth. Complementing our existing presence in Türkiye with Borusan Tedarik's well-respected expert staff and operations will allow us to deliver higher value to our combined customer portfolio and, as a result, grow faster organically in the market. As CEVA, we aim to achieve faster growth capacity by becoming bigger, smarter and stronger."
“A strong indication of the trust in Türkiye”
Erkan Kafadar, CEO of Borusan Holding, emphasized that the sales process shows the trust in Türkiye:
"We have initiated the transfer process of Borusan Tedarik, one of our investments that adds value to our country and the sector, to CEVA Logistics, a group providing global and integrated logistics services. It is a great pride for us that our company, which we established 52 years ago to meet the logistics needs of our Holding, has transformed into a player that will take place in the global arena. We see this process as a strong indicator of trust in Türkiye beyond a company transfer. As Borusan Holding, which carries out its activities with a dynamic portfolio strategy, we will continue our contribution to the economic and social development of our country with new investments."
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