Japanese global logistics services company Nippon Express is believed to be in talks to buy Austrian logistics provider cargo-partner, however, the former said “no particular facts have been decided”.
The parties are negotiating terms of a potential deal and may reach an agreement as soon as the coming weeks, according to people with knowledge of the matter, reported Bloomberg.
A potential sale of cargo-partner could total more than $1bn, according to the sources, who asked not to be identified.
In a statement on April 19, Nippon Express said: “Bloomberg and other media outlets have reported that Nippon Express Holdings is in negotiations to acquire Austrian logistics company Cargo-Partner. None of these reports are based on any announcements from Nippon Express Holdings.
“Nippon Express Holdings considers various options in our management strategy. However, no particular facts have been decided at this time, including any facts related to the aforementioned matter.
“If any facts arise in the future that require disclosure, we will make a public announcement promptly.”
cargo-partner told Air Cargo News (ACN): “We do not comment on rumours.”
In July last year, cargo-partner said it was considering its future ownership structure as founder, chairman and chief executive Stefan Krauter prepared to step down.
The company told ACN at the time that the future of the company “is not limited to a wholly or partial change of controlling ownership”.
The company also made several investments last year.
In April 2022, it fully acquired its UK-based partner, Aztek International Freight, following its purchase of a third of the company in 2021.
Then in July, cargo-partner announced its offer to acquire one third of the shares in European road groupage network sim cargo.
Established in 1983, Cargo-Partner is based in Fischamend near Vienna Airport and has 4,000 employees, 160 offices and is active in 40 countries.
The logistics provider offers air, sea, land transport and warehousing services, with expertise in information technology and supply chain optimisation.
Tokyo-based Nippon Express was established in 1937 and now has a global network comprising over 739 locations. Its operations include sea, air and rail activities.
Cargo-partner buys UK partner as it expands in western Europe
cargo-partner makes offer to acquire one third of sim cargo