FedEx Moves to Sell Supply Chain Unit to Continue Corporate Streamlining

FedEx plans to sell FedEx Supply Chain to CMA CGM Group , a Marseille-based global provider of sea, land, air and logistics solutions, at an enterprise value of $1.4 billion. The acquisition is expected to close by the end of the year, subject to customary regulatory approvals, the companies said in a Wednesday (July 1) press release . FedEx Supply Chain provides warehousing, distribution, fulfillment, returns, recycling and transportation management services, according to a company structure pa