All Acquisitions articles – Page 9
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News
SATS shareholders approve WFS acquisition
Singapore-based SATS' shareholders have voted to approve the planned takeover of cargo-handling giant Worldwide Flight Services (WFS).At an Extraordinary General Meeting on January 18, 96.8% of the total number of votes were in favour of a resolution to approve the transaction.With the receipt of shareholder approvals, the deal is now ...
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News
GEFCO to be re-branded as CEVA following takeover
Automotive logistics firm Gefco will be re-branded as CEVA Logistics and become part of a newly created Finished Vehicles Logistics (FVL) division at the forwarder.The integration of Gefco into the wider CEVA organisation follows the purchase of the automotive logistics firm in July 2022 by the CMA CGM Group, which ...
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NewsMaersk completes Martin Bencher acquisition
Martin Bencher employees. Photo: MaerskMaersk has completed the acquisition of Danish project logistics specialist Martin Bencher Group as it strives to diversify its supply chain offering.The deal, announced in August last year, has an enterprise value of $61m and will allow the shipping giant to launch Maersk Project Logistics.Founded in ...
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News
SATS seeks shareholders' approval for WFS takeover
SATS will hold an Extraordinary General Meeting (EGM) on January 18 to seek shareholders’ approval for the proposed acquisition of air cargo handler Worldwide Flight Services (WFS).The Singapore-based aviation services company struck a deal last September to buy WFS from an affiliate of asset investor Cerberus Capital Management in a ...
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NewsDachser takes over joint ventures in Hungary
Photo: DachserLogistics company Dachser has acquired the remaining 50% of the shares in its Hungarian joint ventures “Liegl & Dachser Szállítmányozási és Logisztikai Kft.” (transport and storage of industrial goods and food products) and “Liegl & Dachser ASL Hungary Kft.” (air and sea freight).In the course of the acquisition, which ...
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NewsWhat would a combined DB Schenker and DHL mean for airfreight volumes?
Last week Deutsche Bahn assigned its management board to examine and prepare the case for a potential sale of up to 100% of its shares in DB Schenker.Speculation immediately turned to who could be a potential buyer for the forwarding unit if state-owned Deutsche Bahn does decide to pursue a ...
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News
MSC's acquisition of Bolloré Africa Logistics is complete
MSC Group's subsidiary SAS Shipping Agencies Services has completed the acquisition of Bolloré Africa Logistics.The sale, agreed in May, comprises all of the Bolloré Group transport and logistics activities in Africa, on the basis of a €5.7bn enterprise value, net of minority interests.The sale price of the shares is €5.1bn. ...
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News
Deutsche Bahn prepares for the sale of DB Schenker
Deutsche Bahn is preparing for the sale of its freight forwarding subsidiary DB Schenker as it looks to focus on its core rail business.The rail group said today that it has assigned its management board to examine and prepare the case for a potential sale of up to 100% of ...
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News
Groupe BBL acquires Share Logistics Group
France-based logistics service provider Groupe BBL has acquired South Holland-headquartered Share Logistics Group.The companies said that Share Logistics Group data, based on the estimated results for 2022, show a combined revenue for the Group subsidiaries that is close to €230m.This data also shows “around 50,000 overseas transport files on full ...
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News
SATS secures funding plan for WFS takeover
Aviation services company SATS has finalised its funding plan for the proposed acquisition of cargo handler Worldwide Flight Services (WFS).The funding plan for the total acquisition cost of S$1.8bn is a mix of term loan and renounceable underwritten rights issue, with the remaining amount financed by internal cash balance.The loan ...
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News
Atlas Air takeover moves ahead after shareholders' approval
The takeover of Atlas Air Worldwide Holdings took a step forward yesterday when the firm's shareholders voted to approve the deal.More than 99% of the shareholder votes cast were in favor of the adoption of the agreement, which represented approximately 80.9% of the outstanding shares of company's common stock.The final ...
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NewsWallenborn acquires stake in Skyroad Logistics
Photo: WallenbornAir cargo road feeder services (RFS) operator Wallenborn is acquiring a shareholding in Australian RFS firm Skyroad Logistics.The stake, which Wallenbon told Air Cargo News it is "not disclosing" at this stage, enables Wallenborn to add Oceania to its RFS network, which already provides extensive coverage in Europe and ...
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News
Frankfurt-Hahn Airport sale further "delayed"
The sale of Frankfurt-Hahn Airport Group has been “delayed” but operations are unaffected.Currently in administration, the Group is due to be sold to Swift Conjoy, a joint venture between real estate firm Swift Holding and aviation specialist Conjoy Investment Partners.According to a new statement on the sale, this is not ...
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NewsSATS to buy Worldwide Flight Services in €2.25bn deal
Source: WFSSingapore-based cargo handler SATS has reached agreement to buy Worldwide Flight Services (WFS) from an affiliate of asset investor Cerberus Capital Management in a deal with an enterprise value of €2.25bn.The transaction will bring together WFS, the world’s largest air cargo handler with operations in the Americas and Europe, ...
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NewsDHL acquires majority stake in Dutch e-commerce specialist Monta
Leonard Aerts, chief customer officer DHL Supply Chain EMEA and Edwin van der Ham, owner and chief executive of Monta. Photo: DHLDHL Supply Chain has announced the acquisition of a majority stake in Dutch e-commerce specialist Monta.Both companies are aiming for a strong partnership to serve small and mid-sized "webshops" ...
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News
SATS in "ongoing discussions” over potential WFS acquisition
Singapore-based handling company SATS has confirmed it is in “ongoing discussions” regarding a potential acquisition of cargo handler Worldwide Flight Services (WFS).SATS said in a press release on September 21 that no formal agreement has been made yet.“While the company is in ongoing discussions regarding a potential acquisition of Worldwide ...
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News
REPORTS: Deutsche Bahn to sell DB Schenker
The German federal government and Deutsche Bahn have agreed to sell the state-owned rail operator's freight forwarding subsidiary DB Schenker, according to news agency Reuters.Quoting sources at both Deutsche Bahn and the government, Reuters said that the sale would be approved as early as this year.The sale could take then ...
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News
Growing EV Cargo acquires 75% of Air Express Cargo
Freight forwarder EV Cargo has purchased a 75% stake in Spain-based Air Express Cargo as it looks to expand its presence in Europe.Air Express Cargo was formed in 2004 and operates out of offices in Madrid, Barcelona and Valencia, providing air and sea forwarding and customs brokerage services on behalf ...
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InsightsAcquisition hungry Worldwide Flight Services targets global growth
Worldwide Flight Services’s (WFS) Craig Smyth speaks to Damian Brett about the air cargo logistics company’s growth plans, while it also tackles recruitment and schedule volatility.Cargo handler Worldwide Flight Services (WFS) has set itself some ambitious growth targets for the coming years.WFS chief executive Craig Smyth tells Air Cargo News ...
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News
Maersk continues push into logistics with latest takeover
Shipping giant AP Moller Maersk has completed the acquisition of e-commerce supply chain firm LF Logistics in a deal with an enterprise value of $3.6bn.Hong Kong-headquartered LF Logistics employs 10,000 people, operates an extensive Pan-Asian network across 223 warehouses and specialises in B2B and B2C distribution solutions within retail, wholesale, ...