Acquisitions – Page 19
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NewsDSV expects Panalpina deal to complete in Q3 as profits rise
DSV expects to close its takeover of Panalpina by the end of the third quarter of this year.In its first quarter results, Denmark-based freight forwarder DSV revealed its expected timeline for its $4.6bn takeover of Panalpina.In May, DSV will file its planned share purchase with the relevant authorities, announce its ...
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Panalpina continues to expand in the perishables sector with its latest acquisition
Panalpina will continue the expansion of its perishables network in South America through the acquisition of CargoMaster in Colombia and its subsidiary, Laseair, in Ecuador.Panalpina said that CargoMaster is one of Latin America’s largest companies specialised in the airfreight export of perishables, mostly flowers to the US.From Colombia and Ecuador, ...
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NewsRhenus acquires Miami-based Freight Logistics Group
Picture: Freight Logistics.Rhenus has acquired Miami-headquartered high-tech supply chain specialist Freight Logistics as the German freight forwarding group continues on the acquisition trail in the Americas.Florida-based Freight Logistics operates its own consolidation hub located near in Miami International Airport and has offices in Argentina, Brazil and Chile.The Freight Logistics acquisition ...
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CEVA to be de-listed as CMA CGM is set to gain a 98% shareholding
The end of CEVA's short time on the Zurich Stock Exchange looks to have been confirmed after CMA CGM said it was now on course to hold a 97.89% stake in the forwarder.Following the announcement, the French shipping giant reconfirmed plans to de-list CEVA from the SIX Swiss Exchange. Settlement ...
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Freightos WebCargo acquires Air Freight Bazaar India
E-booking platform Freightos WebCargo has acquired India’s Air Freight Bazaar, a regional air cargo rates and sales platform based in Chennai.Details of the acquisition are undisclosed.A spokesperson for Freightos said that the Indian air cargo market had seen 17% year-on-year growth between 2016 and 2017.Said the spokesperson: “This acquisition combines ...
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DSV Panalpina: Focus on higher margins and growth rather than slimming down on jobs
DSV intends to lift the profit margin of $4.6bn take-over target Panalpina after the two global freight forwarders have combined their businesses into a $17bn turnover company.DSV boss Jens Bjørn Andersen indicated that the regulatory process in the all-share transaction should take around six months to complete, and that he ...
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NewsDSV boss "happy, proud and humble" to merge with Panalpina
DSV boss Jens Bjørn Andersen said that the proposed $4.6bn merger with Panalpina is expected to complete in around six months.Andersen, chief executive of Denmark-based DSV, made his comments during an investor call this morning on the “combination of forces” with Switzerland-headquartered Panalpina.The merger, still subject to shareholder and regulatory ...
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NewsBreaking news: Panalpina and DSV set to merge in $4.6bn deal
DSV and Panalpina have agreed the terms and conditions of a combination to join forces with a Public Exchange Offer to all Panalpina shareholders.If the DSV offer of SFr195.8 for each Panalpina share is successful, a deal worth around $4.6bn, DSV and Panalpina will become one of the world’s largest ...
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Cathay agrees HK Express acquisition from HNA
Hong Kong-based Cathay Pacific has entered into a HK$4.93bn share purchase agreement to buy 100% of low-cost carrier Hong Kong Express Airways (HKE) from HNA Group, the Chinese conglomerate.The passenger and cargo giant said that the total consideration comprises of HK$2.25bn in cash and a non-cash component of HK$2.68bn.The transaction ...
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NewsRhenus acquires World Net Logistics in South Africa
Germany’s Rhenus Group has continued its 2019 takeover spree by acquiring Johannesburg-headquartered freight forwarding and logistics specialist World Net Logistics (WNL).The takeover of WNL is still subject to approval by the relevant cartel authorities.In January this year, Rhenus acquired Italian Logistics company Cesped and only last week announced that it ...
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CMA CGM nears 90% of voting rights in CEVA Logistics
CEVA Logistics is likely to de-list from the SIX Swiss Exchange later this year after confirming media reports that French shipping group CMA CGM is on course to control almost 90% of the voting rights in the supply chain company.Switzerland-based CEVA said that a SFr30 per share public tender offer ...
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Rhenus buys Canada's Rodair
Germany’s Rhenus Group has acquired Canadian logistics provider Rodair. The acquisition, terms were not disclosed, is subject to approval by the relevant authorities.The core business activities at Toronto-headquarter Rodair involve international freight forwarding, project logistics, courier, warehousing and distribution, 3PL services, and e-commerce solutions.The company, founded in 1996, has business ...
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CMA CGM set for Ceva stake of almost 90%
According to a report by Reuters, CMA CGM now controls almost 90% of the voting rights in Ceva Logistics.This follows a public tender offer from French shipping group of SFr30 per share. Reuters said this offer values Ceva at SFr1.67bn ($1.66bn) – a price that has been agreed after a ...
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NewsAzul bids for Avianca Brasil assets
Brazilan airline Azul has signed a non-binding agreement with financially troubled Avianca Brasil to acquire its operating certificate, 70 pairs of slots and about 30 Airbus A320 aircraft.The $105m offer remains subject to a number of conditions, including due diligence, regulatory and creditors approvals. The airline filed for judicial recovery ...
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CH Robinson goes into Space with €42m Spanish forwarder acquisition
US freight forwarder CH Robinson acquired Spanish forwarder Space Cargo Group for €42m ($48m) in cash as part of a strategy to expand its global footprint.Space Cargo, headquartered in Madrid, provides international freight forwarding, customs brokerage, and other logistics services in Spain and Colombia.For the fiscal year ending December, 2018, ...
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Cathay Pacific confirms takeover talks for Hong Kong Express from HNA Group
Cathay Pacific Airways has confirmed that it is "in active discussions" about an acquisition involving the low cost carrier Hong Kong Express Airways (HKE) from HNA Group, the Chinese conglomerate.The Hong Kong-base passenger and freighter airline issued a short statement after media reports suggested that Cathay Pacific was in discussions ...
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Panalpina chief: We're on the acquisition trail
Panalpina chief executive Stefan Karlen has told the Swiss business press that the forwarder is on the acquisition trail, despite itself being a takeover target.Karlen told Finanz and Wirtschaft (F&W) that the company would be looking to grow organically and inorganically through acquisitions.This could include deals involving companies the same ...
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Panalpina shareholder urges board to consider DSV offer
One of Panalpina's major shareholders has written to the forwarder's board urging them to seriously consider DSV's takeover offer and to express its concern over the largest shareholder's control over the company.In a letter to the Panalpina board, David Samra, managing director of Artisan Partners, a 12% shareholder, said that ...
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Brussels approves Virgin Atlantic acquisition by Air-France-KLM, Delta and Virgin Group
The European Commission in Brussels has approved the proposed acquisition of joint control over Virgin Atlantic by Air France-KLM, Delta and the Virgin Group.The Commission, which had launched an investigation of the deal under European Union Merger Regulation, concluded that the transaction “would raise no competition concerns” in the European ...
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Swissport to acquire 100% stake in Heathrow Cargo Handling
Swissport has taken 100% control of Heathrow Cargo Handling Ltd (HCH) after acquiring the 50% stake held by joint venture partner Air France. Terms were not disclosed.Last year, the HCH joint venture, with a workforce of some 120 employees, handled over 150,000 tons of air cargo, seven percent more than ...