Acquisitions – Page 4
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NewsDeutsche Bahn approves sale of DB Schenker to DSV
Deutsche Bahn has approved the sale of its freight forwarding business DB Schenker to transport and logistics group and fellow forwarder DSV. Denmark-based DSV confirmed last month that it had agreed to buy Germany headquartered DB Schenker from state-owned railway firm Deutsch Bahn for €14.3bn, but the deal still needed ...
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Union to vote against DSV's proposed take over of DB Schenker
Railway and transport union EVG is reportedly planning to vote against the sale of forwarder DB Schenker to DSV later this week.On Wednesday, the supervisory board of Schenker parent Deutsche Bahn is due to meet to vote on DSV's proposed €14.3bn deal to acquire the forwarder.However, publication Frankfurter Allgemeine Zeitung ...
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CHI Aviation gains a foothold in Munich with Cargogate investment
Cargo handler CHI Aviation Handling has purchased a 74.9% stake in Munich Airport-based Cargogate.The investment gives CHI Aviation, which is part of the CHI Group, a presence at Munich Airport for the first time.Munich Airport will retain the remaining 25.1% of shares in the company.Cargogate offers a variety of services ...
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NewsScan Global Logistics expands presence in Latin America
Source: Scan Global Logistics Freight forwarder Scan Global Logistics (SGL) has expanded its presence to Argentina and Colombia with the opening of new offices in the countries. The Denmark-headquarterd firm said it had recently opened offices in Argentina and Colombia as part of recent efforts to expand ...
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Alaska Air Group completes acquisition of Hawaiian Airlines
Alaska Air Group has acquired Hawaiian Airlines, completing a transaction that expands its operation to include transpacific flights and that bolsters Alaska Air’s fleet with its first widebody jets.The Seattle-based company, parent to Alaska Airlines, said on 18 September it had closed the deal, paying $1.9bn in all-stock acquisition to ...
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CVC offers to increase bid for DB Schenker
The private equity consortium led by CVC has reportedly launched a last-ditch effort to beat DSV in the race to buy DB Schenker despite the Danish forwarder having signed a €14.3bn take over deal last week.News agencies Reuters and Bloomberg are both reporting that CVC has written to Schenker parent ...
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S&P revises DSV's A- rating outlook to negative following Schenker deal
Credit ratings agency S&P has re-affirmed the forwarder's current credit rating of A- but revised its outlook to negative due to the risks associated with its planned €14.3bn take over of German logistics giant DB Schenker.S&P said that its decision to revise the firm's outlook from stable to negative reflects ...
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NewsDSV signs deal to takeover DB Schenker and create world's largest forwarder
DSV has confirmed reports that it has signed a deal to take over German logistics giant DB Schenker in a move that will create the world's largest freight forwarder.In an update issued this morning, the Danish forwarder said it had agreed to buy DB Schenker from state-owned railway firm Deutsch ...
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NewsUPS grows healthcare logistics capabilities with acquisitions
Photo: UPS UPS has struck a deal to grow its healthcare logistics capabilities with the acquisition of Germany-based Frigo-Trans and its sister company BPL. Once completed, the acquisitions will boost end-to-end temperature-sensitive and time-critical logistics services throughout Europe, said the US-headquartered company. “The fast-paced innovation in the ...
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Reports: DSV outlines job and investment plans if it lands DB Schenker
DSV has reportedly outlined how it would protect jobs and invest in DB Schenker following a leading German union expressing concern over job losses if the Danish forwarder is successful in its takeover bid.Last week German trade union Ver.di is said to have written to the Deutsche Bahn board suggesting ...
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NewsScan Global seals deal for Blu Logistics Brasil
Scan-Global-Logisitcs.jpg Photo Scan Global Logistics Scan Global Logistics (SGL) has completed the acquisition of freight forwarder Blu Logistics Brasil Transportes Internacionais LTDA to extend its business in Latin America. The Danish forwarder announced in July that it had signed an agreement to buy the forwarder, which last ...
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NewsDP World acquires Cargo Services Far East
Photo: DP WorldDP World has completed the acquisition of Hong Kong-headquartered Cargo Services Far East Ltd to expand into retail and fashion logistics and grow its airfreight business.Logistics service provider, Cargo Services employs over 2,500 people in Greater China and across Asia, Europe, South Africa and the US.Founded in 1989, ...
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Leading German union backs CVC bid for DB Schenker
Leading German trade union Ver.di has reportedly given its backing to the CVC-led private equity consortium bidding to take over DB Schenker over fears of job losses should DSV be successful.According to Bloomberg, research from the union has indicated that more jobs would be lost at the forwarder because the ...
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Reports: DSV and CVC bid €14bn for DB Schenker
DSV and a private equity consortium led by CVC have reportedly individually put in binding bids of around €14bn for DB Schenker.This is according to people familiar with the matter, Bloomberg has reported as the race to buy Deutsche Bahn’s freight forwarding subsidiary has narrowed to just the two bidders ...
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Alaska promises Hawaiian a warm welcome as merger clears hurdle
Alaska Airlines’ acquisition of Hawaiian Airlines has cleared a major hurdle after the Seattle-based carrier said on August 20 that the time period for the US Department of Justice to review the $1.9bn deal had expired, and no objections appeared to have been made.A US judge had earlier this month ...
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Freightos acquires Shipsta
Online booking and rate firm Freightos has acquired multimodal tender procurement platform Shipsta to expand its spot pricing, quoting, and booking capabilities.Headquartered in Luxembourg, Shipsta supports companies' freight procurement by streamlining tender management and procurement processes across air, ocean, road, and rail, enabling companies to solicit tenders from freight forwarders ...
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Hyundai Glovis confirms Asiana cargo stake
Hyundai Glovis has confirmed it will invest in a consortium led by Air Incheon as part of plans to acquire Asiana Airlines’ cargo business.Earlier this month, Republic of Korea (ROK)-based logistics company Hyundai Glovis said it was considering investing in an acquisition consortium set up by Air Incheon after the ...
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Korean signs Asiana cargo sale agreement with Air Incheon
Korean Air has today signed a "basic business sale agreement" with Air Incheon for Asiana Airlines' cargo business.The agreement follows June's announcement that Air Incheon had been named as the preferred bidder for the sale of Asiana's cargo business as part of Korean Air’s acquisition of Asiana Airlines."The transaction amount ...
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Air Incheon gains support for Asiana cargo bid
Air Incheon's plan to acquire Asiana Airlines’ cargo business is gaining momentum with reports that Hyundai Glovis may invest in a consortium led by the airline.Republic of Korea (ROK)-based logistics company Hyundai Glovis said it is considering an investment after Air Incheon was named as the preferred bidder for Asiana ...
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CMA CGM completes sale of Bolloré Logistics’ operations in French Overseas Territories
The CMA CGM Group has completed the sale of 100% of subsidiary Bolloré Logistics’ activities in Guadeloupe, Martinique, Saint-Martin, French Guiana, and Polynesia to the Balguerie Group.The Marseille-headquartered shipping giant was required to sell operations in the French Overseas Territories by the European Commission and the Polynesian Competition Authority as ...