CMA CGM Snaps Up Freight Firm Held by Sanctioned Russian Railway

French shipping giant CMA CGM SA agreed to buy Gefco Group, an automotive logistics company that was majority-owned by sanctioned Russian railway RZD and carmaker Stellantis NV, in a deal that highlights the far-reaching corporate fallout from the war in Ukraine.

CMA CGM will acquire nearly 100% of vehicle-transporter Gefco pending final approval in the coming months from European antitrust authorities, it said in a statement Friday. The Marseille-based company didn’t specify terms of the transaction or the other parties involved.

RZD previously owned 75% of Gefco, while Stellantis holds the rest. Les Echos reported an enterprise value of ...