All Acquisitions articles – Page 18
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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 ...
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Cargojet buys ground handler at Mirabel airport
Canadian overnight all-cargo carrier Cargojet has purchased an unnamed ground handling and ground services equipment (GSE) company at Mirabel International Airport in Québec for approximately $3m.The agreement to purchase includes all company assets and assumes all current lease arrangements.Cargojet chief executive Ajay Virmani said: "The acquisition of this ground handling ...
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dnata boosts freighter forwarder services with double UAE shares swoop
UAE-based ground handler dnata has increased its ownership in two Dubai-based joint venture companies, strengthening its position in the international freight forwarding sector.The Dubai-based global air services provider has purchased a 50% stake in Dubai Express, Freightworks and a 25.5% stake in Bolloré Logistics UAE from the Kanoo Group.As a ...
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DSV move for Panalpina could spark 'bidding war' for forwarder
Consultant Transport Intelligence (Ti) has suggested that DSV's move to purchase Panalpina could spark a 'bidding war' for the forwarder that could price the Danish company out of the running.In its latest market round-up, Ti took a closer look at the potential outcome of DSV's $4bn offer to purchase Panalpina.Practice ...
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FedEx to swoop on international express business of Israeli distribution firm
FedEx Express will acquire the international express business of Israeli logistics and distribution firm Flying Cargo Group.The announcement comes as Flying Cargo’s service agreement with FedEx Express is coming to an end.“Israel has been and remains an important market for FedEx, and our strong reputation in the market is built ...
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UK forwarder market sees consolidation as Ligentia swoops on Air & Cargo Services
Freight forwarder Ligentia Group has stepped in to purchase the business and assets of Air & Cargo Services Ltd, which had been facing financial headwinds.Ligentia said the purchase would provide a home to Air & Cargo Services' 79 employees and offer continuity of service to customers.The Leeds-headquartered forwarder added that ...
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LATAM finalises Mas Air Cargo sale
LATAM airlines has finalised the sale of its stake in Aerotransportes Mas de Carga (Mas Air), also known as LATAM Cargo Mexico, for an undisclosed sum.The stake has been purchased by a group led by current shareholders of Mas Air, with the deal completed on December 1.According to Flight Radar, ...
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How would a combined K+N and Panalpina stack up in terms of air cargo?
Recent events have fuelled market speculation that Kuehne+Nagel could be interested in holding talks with Switzerland-based freight forwarder Panalpina, but what would a tie-up between the two logistics giants look like in terms of air cargo? (see chart at end of article)The speculation started when Panalpina’s Peter Ulber announced he ...
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Simarco sees airfreight take off following acquisitions
Logistics firm Simarco recorded a 6% increase in airfreight volumes in the last 12 months following the acquisition of Heathrow-based Formula Goss International and (FGI) and Sutch and Searle.Simarco co-founder and chief executive Simon Reed said that the acquisitions made late last year had enabled Simarco to consolidate services of ...
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ATSG completes Omni Air acquisition
ATSG has completed the previously announced acquisition of Omni Air International LLC (Omni Air), a passenger ACMI and charter services provider, for $845m.Omni Air, founded in 1993 and with a fleet of 13 passenger aircraft, a mix of Boeing 767 and Boeing 777 extended range units, serves the US and ...
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WiseTech Global gains foothold in Sweden
Global logistics software group WiseTech Global has continued its takeover strategy after acquiring CargoIT, a leading customs management and logistics solutions provider in Sweden.The Stockholm-headquartered company offers customs management, freight forwarding, warehousing and transport solutions to over 150 customers including DHL, Kerry Logistics, SAS Cargo and several automotive manufacturers.Richard White, ...
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FedEx buys Australian forwarder Manton Air-Sea
FedEx has acquired Sydney-based forwarder Manton Air Sea to operate as a subsidiary of the FedEx Trade Networks operating company.Richard Smith, president and chief executive, FedEx Trade Networks, said: “Adding Manton’s capabilities to FedEx Trade Networks and the broader FedEx portfolio will open up opportunities for us to continue to ...
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WiseTech Global acquisitions continue as it bags SmartFreight
Expansion-minded WiseTech Global has announced its second acquisition in less than three days after buying Australia-based parcel shipping and less than truckload (LTL) software provider SmartFreight.Earlier this week, WiseTech Global continued its worldwide buying spree with the acquisition of LSI Sigma Software (DataFreight), a provider of Customs, freight forwarding and ...
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WiseTech Global adds Datafreight to its portfolio of acquisitions
WiseTech Global has continued its worldwide buying spree with the acquisition of LSI Sigma Software (DataFreight), a leading provider of customs, freight forwarding and warehouse management software solutions in the UK.Headquartered in Southampton, DataFreight provides integrated logistics solutions, including HMRC customs software, specialist consultancy for UK customs compliance and freight ...
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Bidders circling Swissport, according to Bloomberg
Rival bidders are circling Swissport International and Brookfield Asset Management Inc is the likely buyer in what could be a $3bn sale, according to reports by Bloomberg News.Bloomberg's unnamed sources close to the matter said that talks are at an "advanced stage" but that they could still break down as ...
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K+N swoops on Indonesian logistics firm as it targets e-commerce
Kuehne+Nagel has acquired the logistics operations of Indonesia's Wira Logistics as it expects the country's e-commerce market to grow rapidly.Gianfranco Sgro, member of the managing board of Kuehne + Nagel International AG, responsible for contract logistics, explained the deal: “Indonesia is arguably the most important internet market in South East ...
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Swissport targets expansion in Germany with Apron acquisition
Cargo handler Swissport has pounced on rival Apron as it looks to expand its presence at Stuttgart and the wider German market.The handler said that the purchase of Apron, which includes a “large-scale warehouse”, makes Stuttgart its second largest cargo hub in Germany after Frankfurt.The deal means Swissport will be ...
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Rhenus opens new New Zealand subsidiary as it continues expansion
Freight forwarder Rhenus Logistics has continued its network expansion with the launch of a subsidiary based in Auckland, New Zealand.Rhenus Logistics NZ officially opened on August 20 and will provide a comprehensive international and domestic 4PL and 5PL solution for businesses in the region.The operation will also provide a customs ...