CEVA Logistics is to buy CMA CGM Log, according to breaking reports, after CMA CGM made a public tender for the outstanding shares it does not own in CEVA. While CMA CGM wants to maintain CEVA's public listed status, it has launched a public tender as part of a revised strategic plan. The aforementioned plan includes a revenue target for CEVA of US$9bn by 2021. Maersk, CMA CGM & Major Carriers Set Up Association $630 million worth of that figure is to be acquired via CMA CGM Log, the French liner's freight management arm, being sold to CEVA. In a further twist, CEVA is to appoint CEO of APL Nicolas Sartini as its new Deputy CEO. Xavier Urbain, ceo of CEVA Logistics, said: "I am very happy to welcome Nicolas who has successfully turned around the APL shipping company as my deputy.