Acquisitions – Page 5
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News
UPS to acquire Estafeta
UPS has entered into an agreement to acquire Mexican express delivery company Estafeta, including a fleet of six aircraft.The acquisition has been announced as Mexico becomes strategically more important to UPS and the use of nearshoring grows.Estafeta's business include global express import and export with air service, document and parcel ...
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NewsScan Global Logistics set to expand to Brazil with latest deal
Source: Scan Global LogisticsFast-growing freight forwarder Scan Global Logistics (SGL) looks set to continue its global expansion with the addition of a presence in Brazil.The Danish company announced today that it had signed an agreement with the intent to buy Blu Logistics Brasil Transportes Internacionais.Blu Logistics is headquartered in Sao ...
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News
Mondiale VGL expands in Asia with Interunion takeover
New Zealand-headquartered freight forwarding and logistics company Mondiale VGL has acquired Southeast Asia-based multimodal forwarder Interunion.Prior to the acquisition, Mondiale VGL held an existing stake in Interunion and the two companies have partnered since 2012.The company said it has been focused on building a global supply chain operation with its ...
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News
OIA expands to Ireland with acquisition of Sandford Freight
US supply chain services company OIA Global has extended its European network to Ireland with the acquisition of Dublin-based multimodal freight forwarder Sandford Freight.OIA Global said the acquisition is strategically important because Ireland is a key market for the electronics, healthcare, retail and lifestyle industries that it does business in.Jeff ...
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NewsLufthansa finally able to proceed with ITA Airways stake
Source: Lufthansa GroupThe European Commission has approved Lufthansa's bid to buy a 41% stake in ITA Airways, over two and half years since Lufthansa first expressed interest in the Italian carrier.Air Cargo News first reported that the MSC Group aimed to work with Lufthansa to acquire a majority stake in ...
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News
Maersk withdraws bid for DB Schenker
A.P. Moller-Maersk has withdrawn its bid to buy DB Schenker, leaving just three bidders remaining in the acquisition race.The shipping giant said in a statement shared with Air Cargo News that it made the decision to quit the acquisition process for Deutsche Bahn's freight forwarding subsidiary after it concluded that ...
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News
Unions oppose Air Incheon's bid for Asiana's cargo business
Unions have put yet another obstacle in the path of Korean Air’s delayed acquisition of Asiana Airlines by objecting to both the nature of the takeover and the choice of Air Incheon as the preferred bidder for the sale of Asiana Airlines’ cargo business.There was some positive progress with Korean's ...
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Korean picks Air Incheon as preferred Asiana Cargo bidder
Air Incheon has been named as the preferred bidder for the sale of Asiana Airlines' cargo business as part of Korean Air's much-delayed acquisition of Asiana Airlines.Republic of Korea-based airlines Eastar Jet, Air Premia and Air Incheon had in April all reportedly submitted bids to acquire the cargo business, but ...
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News
ANA postpones Nippon takeover for the 4th time
All Nippon Airways (ANA) has delayed its planned takeover of fellow Japanese carrier Nippon Cargo Airlines (NCA) for a fourth time.At last confirmation, the deal was due to be completed on July 1, but this has now been pushed back to March 31 next year.The delay is because of the ...
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News
Scan Global completes Foppiani takeover
Scan Global Logistics (SGL) has completed the acquisition of Italian freight forwarder Foppiani Shipping & Logistics following the approval of Italian competition authorities.Headquartered in Prato, Foppiani generates yearly revenue of €115m, employs more than 160 people and offers a range of airfreight and ocean freight services.The forwarder focuses on customers ...
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News
Menzies finalises Groundforce Portugal stake
Ground services provider Menzies Aviation has completed its acquisition of a 50.1% stake in Groundforce Portugal.Groundforce Portugal manages more than 100,000 aircraft turns every year across five of the busiest airports in Portugal, where it provides ground and air cargo services to several global airlines.Airline TAP Air Portugal retains a ...
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News
Deutsche Bahn selects the final four DB Schenker bidders
Deutsche Bahn has narrowed the number of potential buyers of freight forwarding subsidiary DB Schenker down to four bidders that have now been invited to make binding offers.According to Reuters, the German rail giant has selected Maersk, DSV, Saudi shipping company Bahri and a private equity consortium led by CVC.Deutsche ...
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Bloomberg: Private equity and shipping giants circle DB Schenker
German forwarding and logistics company DB Schenker has attracted bids from shipping and logistics giants as well as a private equity consortium.According to a report in Bloomberg, a consortium led by CVC Capital Partners and Carlyle Group has submitted a bid worth around €14bn.Meanwhile, DSV, AP Moller Maersk and Mediterranean ...
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News
New partnership aims to create SriLankan Airlines cargo feeder network
MMAG Aviation Consortium (MAC) will establish an air cargo feeder network to support SriLankan Airlines' cargo operations if an investment bid by Supreme Global Holdings and a partner is successful.A partnership led by Sri Lankan conglomerate Supreme Global last week emerged as a potential buyer of an interest in the ...
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Three airlines vying for Asiana Airlines' cargo business
Three low cost airlines are reportedly in the running to buy Asiana Airlines' cargo business as part of conditions for Korean Air to acquire Asiana Airlines.Eastar Jet, Air Premia and Air Incheon, all based in the Republic of Korea, have submitted bids in the second round of bidding to acquire ...
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CMA CGM in talks with Balguerie over the sale of part of Bolloré Logistics
The CMA CGM Group has initiated the sale of 100% of Bolloré Logistics' activities in Guadeloupe, Martinique, Saint-Martin, French Guiana, and Polynesia, with Balguerie Group making an offer.This follows the completion of the Group's takeover of Bolloré Logistics from the Bolloré Group in February.The sale is in line with the ...
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NewsDachser takes majority stake in Dachser & Fercam Italia
Photo: DachserDachser has acquired 80% of the shares in the joint venture Dachser & Fercam Italia, effective March 28.This completes the German logistics company's acquisition of the majority of the groupage and contract logistics divisions of the Italian logistics company Fercam, first announced in August last year.Following a competition law ...
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Scan Global Logistics plans for further acquisitions
Fast-growing Scan Global Logistics said it is planning to make more acquisitions with a focus on growing in key markets.Following the announcement of its full-year results, SGL said that its acquisition strategy had so far been based on accelerating its geographical presence.This strategy will continue in some larger markets but ...
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News
ANA again pushes back takeover of freighter airline NCA
All Nippon Airways (ANA) has for a third time delayed its planned takeover of freighter carrier Nippon Cargo Airlines (NCA) as regulators continue to examine the deal.ANA had originally been hoping to complete the deal on October 1 last year, but this was later pushed back until February 1, then ...
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MSC moves forward with Clasquin deal
Swiss shipping firm MSC has moved forward with its deal to acquire international air and sea freight forwarder Clasquin.MSC subsidiary SAS Shipping Agencies Services Sàrl has entered into a put option agreement for the acquisition of 42.06% of the share capital of Lyon, France-based Clasquin, said a press release issued ...