Volga-Dnepr nears ACG acquisition

GERMAN anti-monopoly authorities are expected to approve Volga-Dnepr’s plans to acquire Air Cargo Germany (ACG) in the next two weeks.

The deal will allow the Russian player entry into the European inland cargo transportation market. ACG, valued at US$30-40 million, has been negotiating with the owner of VIM-Avia, Rashid Mursekaev, but the deal fell through sources say.

It is not known whether Volga will replace ACG’s ageing fleet of four 747-400s with an average age of 19.5 years.

Volga will look to take advantage of ACG’s European connections and links from Frankfurt Hahn (Germany) to Chicago (US).