Acquisitions – Page 13
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News
Cargo-partner buys UK partner as it expands in western Europe
Logistics firm cargo-partner has fully acquired its UK-based partner, Aztek International Freight, following its purchase of a third of the company in 2021.The move will add two new offices to the cargo-partner network, in East London and Bradford, in addition to the company's existing office in Manchester, and continues the ...
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US regional carrier Alpine swoops on Suburban
US regional air cargo carrier Alpine Air Express has acquired Suburban Air Freight as it looks to continue its recent expansion.The deal is Alpine's second acquisition since it became a portfolio company of private equity firm AE Industrial Partners (AEI) - it also acquired the assets of Great Lakes Airlines ...
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NewsRoyal HaskoningDHV acquires air cargo supply chain specialist
From left: Erwin Faber (Districon), René Dahmen, Sabine Bink, Marije Hulshof (Royal HaskoningDHV), Jeroen Kiks and Jack Pool (Districon). Photo: DistriconNetherlands-based engineering consultancy firm Royal HaskoningDHV has acquired Netherlands-located supply chain solutions company Districon that has links to the air cargo industry.Districon brings to the deal its "knowledge of optimising ...
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Newsdnata to enter German cargo market through acquisition
Source: dnata and Cologne Bonn AirportCargo handler dnata will enter the German market at Cologne Bonn Airport (CGN) through the acquisition of Wisskirchen Handling Services.Wisskirchen is the exclusive operator of the Cologne Bonn Cargo Centre, a 12,000 sq m facility at CGN, and provides a full range of cargo services ...
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News
Bolloré agrees €5.7bn deal to sell African logistics business
The Bolloré Group has agreed to sell its African logistics business to container shipping giant MSC in a deal with an enterprise value of €5.7bn.The two companies entered discussions over the sale in December and, following the favourable opinions issued by each of the employee representative bodies, the two companies ...
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News
Menzies and NAS finalise £571m takeover deal
Menzies will recommend to shareholders a takeover offer from Agility subsidiary National Aviation Services (NAS) that values the company at £571m.The two companies today announced they reached agreement on the terms of a recommended cash offer to acquire 100% of the ordinary shares in Menzies at a price of £6.08 ...
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NewsEV Cargo expands in air cargo with Fast Forward acquisition
Heath Zarin. Source: EV CargoEV Cargo has acquired Netherlands-headquartered Fast Forward Freight in a move that will more than double the firm's annual airfreight volumes.The company - owned by Hong Kong-based private equity firm EmergeVest - said that the acquisition is part of its previously announced corporate strategy to expand ...
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NewsSwissport targets acquisitions with new appointment
Pablo von Siebenthal. Source: SwissportSwissport is targeting an "ambitious" acquisition plan and has appointed Pablo von Siebenthal as global head of mergers and acquisitions (M&A) to head up the project.Von Siebenthal joins from Kuehne+Nagel on April 1 and will assume overall responsibility for the execution of Swissport's new global acquisition ...
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News
Global GSA Group acquires three companies
Netherlands-headquartered Global GSA Group has acquired Aircargo Italia, Worldair and Star Cargo Italy.The three Italian acquisitions will help Global GSA Group expand its position in Italy and fits with its overall global expansion strategy. Other acquisitions are also expected to be announced this year, said Ismail Durmaz, chief executive of ...
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News
Menzies accepts NAS takeover offer
John Menzies has approved a takeover proposal from Agility subsidiary National Aviation Services (NAS) Holding following its rejection of earlier offers.The board of Menzies has received a further revised “final” proposal from Agility subsidiary NAS regarding a possible all cash offer for Menzies of 608 pence per share.The deal has ...
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NewsJohn Menzies takeover bid intensifies
Photo: MenziesNational Aviation Services (NAS) has stepped up the pressure on takeover target John Menzies.NAS affiliate Agility Strategies Holding has entered into contracts to buy 13.2% of Menzies shares for 605 pence per share, higher than the original unsolicited bid.On February 9, NAS’ 510 pence per share offer for John ...
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Menzies issues further takeover rebuff to NAS
Menzies has issued a further takeover rebuff to Agility subsidiary National Aviation Services (NAS), which last week launched a 510 pence per share bid for the Scotland-based wholesale airfreight and airport ground handling group.The board of Menzies said on February 15 that it has engaged with its shareholders following its ...
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News
Italian government kicks off ITA sale
The Italian government has begun the process of finding a partner for Italian state airline ITA Airways after container shipping company Mediterranean Shipping Co. (MSC) and German airline Lufthansa expressed their interest last month.In the first stage of this process, the government will retain a minority stake in ITA Airways, ...
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NewsKorean Air merger doesn't affect cargo competition
Photo: Korean AirKorean Air’s acquisition of Asiana Airlines will not reduce cargo competition, the Competition and Consumer Commission of Singapore (CCCS) has concluded.The CCCS has given Korean Air unconditional approval for its takeover of Asiana Airlines on February 8, ruling that the acquisition will not infringe Singapore’s 2004 Competition Act.Singapore’s ...
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News
NAS: Menzies takeover offer 'compelling'
National Aviation Services (NAS) has hit back at John Menzies' rejection of its takeover bid, describing its offer as compelling.The Agility subsidiary today said that its offer of £5.10 per share was 76% higher than Menzies share price at the close of business of February 2 and 68% above the ...
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Menzies dismisses takeover bid
Aviation services group John Menzies has rebuffed a takeover bid from Agility subsidiary National Aviation Services (NAS) Holding.Menzies, which provides airfreight wholesale through Air Menzies International and ground handling through Menzies Aviation, said that after careful consideration it had rejected the offer of £5.10 per share.The board concluded that the ...
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News
Maersk swoops on Pilot to expand US forwarding presence
Shipping giant AP Moller Maersk has swooped on US forwarder Pilot Freight Services as it continues to expand its logistics presence.The transaction price is $1.7bn and the deal is expected to be completed in the second quarter of 2022. The current owners of Pilot are private equity firm ATL Partners ...
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NewsXeneta swoops on CLIVE Data Services
Niall van de Wouw of CLIVE Data Services and Xeneta's Patrik Berglund. Source: CLIVE Data ServicesAir and ocean rate data provider Xeneta has acquired airfreight data firm CLIVE Data Services as it looks to meet rising demand.Xeneta said that acquisition comes as the global freight market had been through its ...
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News
Broker Air Partner set to be bought in $107m deal
Private aviation firm Wheels Up Experience Inc has reached an agreement to buy UK-based charter broker Air Partner.Under the terms of the transaction, Wheels Up will acquire the entire issued and to be issued ordinary share capital of Air Partner for £1.25 per share, equivalent to an enterprise value of ...
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News
MSC and Lufthansa eye ITA Airways
Container shipping giant Mediterranean Shipping Co. (MSC) is interested in acquiring a majority stake in Italian state airline ITA Airways.The MSC Group aims to create a partnership with the Italian Government and the German airline Lufthansa.Both the MSC Group and Lufthansa have expressed the wish that the Italian Government maintains ...