CMA CGM is close to finalizing a $1.4 billion agreement with FedEx.

CMA CGM is close to finalizing a $1.4 billion cash acquisition of FedEx's third-party logistics unit, enhancing its presence in the U.S. supply chain. This move aligns with CEO Rodolphe Saade's strategy to diversify into logistics and air freight. Alongside the deal, partnerships are anticipated to integrate FedEx's air cargo with CMA CGM's shipping capabilities. For FedEx, selling the unit allows a focus on its core delivery business after the recent spin-off of FedEx Freight. The FedEx Supply Chain operates extensive logistics services, including transportation management and reverse logistics.