PARIS (Reuters). FRANCE’S CMA CGM announced Friday that it had acquired almost 100% of Gefco. The auto transport company was previously owned by Stellantis and Russian Railways (RZD).

CMA CGM has been authorized by European Commission to immediately acquire Gefco’s capital, in anticipation of final approval expected in the following months.

Gefco announced that it will buy back 75% of RZD shares after Gefco, a state-owned firm became the subject of Western sanctions.

Stellantis stated in another statement that the remaining 25% in Gefco had been sold to CMA CGM.

France’s PSA, which was merged with Fiat Chrysler last year to create Stellantis in Italy, owned 100% of Gefco from 2012 until it sold a 75% share to RZD at 800 million euros ($869million).

“The sale of this non-strategic asset marks the last step of our exit plan, initiated a decade ago, from the transportation and logistics industry,” Stellantis CEO Carlos Tavares said in the statement.

French media reports last week that RZD’s exit would lead to the acquisition of the business by CMA CGM. CMA CGM invests heavily in non-maritime logistics, as well as container shipping.

CMA CGM announced that Gefco would help CMA CGM’s logistics division CEVA become a leader on auto transport in France and Europe.

Gefco employs 11,500 staff in 47 countries.

($1 = 0.9205 euros)