Container shipping company CMA CGM has been given clearance by regulators to invest in CEVA Logistics.

CMA CGM, which is the third largest container shipping company in the world, is going to possess 24.99% of CEVA Logistics’ share capital when the deal goes through.

In a statement, CEVA Logistics said: “CEVA and CMA CGM will work together to expand their commercial cooperation and to develop complementary services, which address the increasing customer need for integrated end-to-end solutions.

“Both companies explore arms-length cooperation and believe that the partnership could create significant value to customers and would be mutually beneficial to both companies.”

CEVA’s CEO, Xavier Urbain, added: “It is good news that regulatory approvals have been obtained so quickly and we can now fully engage. We are excited about the partnership with CMA CGM.”