Acquisitions – Page 20
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Qatar Airways dumps plan for American Airline stake
Qatar Airways has dropped a plan to acquire up to a 10% stake in American Airlines, according to press reports. In a statement, the Middle Eastern carrier said that “taking into account the latest public disclosure of American Airlines”, the investment “no longer meets our objectives”.The US carrier had vociferously ...
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Kuehne+Nagel expects to make more perishables logistics acquisitions
Freight forwarder Kuhne+Nagel (K+N) is expecting further consolidation in the perishables logistics market after it yesterday announced the acquisition of two companies.Speaking shortly after announcing the company’s second-quarter results and the acquisition of two perishables forwarders, chief executive Detlef Trefzger said that K+N’s market share in the sector was “extremely ...
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K+N expands perishables network with US and Kenyan acquisitions
Kuehne + Nagel (K+N) has expanded its global perishables network with the acquisition of sector specialist forwarders Commodity Forwarders Inc. (CFI) in the US and Trillvane in Kenya.Switzerland-based K+N said that the two acquisitions would add more than 150,000 tons of annual perishables traffic to its network and “further strengthens ...
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Cathay to buy partner DHL's stake in Air Hong Kong
Asian airline Cathay Pacific is to buy the 40% stake held in freighter carrier Air Hong Kong (AHK) by joint venture partner DHL, the German-owned global logistics and express parcels operator.Cathay Pacific currently owns 60% of the AHK stock.In a Hong Kong Stock Exchange filing, Cathay Pacific and DHL confirmed ...
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Rhenus swoops on Australian forwarder
The Rhenus Group has signed an agreement to purchase Australian freight forwarder O’Brien Customs and Forwarding, giving it its own presence in the market for the first time.The O’Brien family business handles air and sea freight consignments and provides customs and warehouse services and is headquartered in northern Melbourne.Rhenus chief ...
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Kerry continues to build on China-Europe rail offering with shareholding in LPL
Kerry Logistics Network has acquired 50% of shares in Lanzhou Pacific Logistics (LPL) as it looks to further develop its China-Europe rail freight operations.Kerry Logistics will join China Railway Container Transport Company as a shareholder in LPL."The investment marks another strategic step in advancing Kerry Logistics’ expansion into the rail ...
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Freightos raises $25m for further growth
Hong Kong registered online booking portal Freightos has raised $25m in funding from a group of investors led by GE Ventures.The logistics technology company has announced the completion of a $25m Series B extension round which, it said, would bring the company’s total funding to $50m.The funds will be used ...
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European court annuls 2013 decision to block UPS-TNT deal
Europe's General Court has annulled the January 2013 decision by the European Commission to refused authorisation of the merger between UPS and TNT, on the grounds of a “procedural irregularity” by the European regulator.TNT was later acquired by Federal Express, the arch rival to UPS in the global express small ...
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SEGRO swoops for Heathrow's "jewels in the crown" airside cargo property
Industrial warehouse developer SEGRO has paid £365m to acquire 100% control of Airport Property Partnership (APP), whose "jewels in the crown" assets include the majority of Heathrow Airport’s airside cargo facilities.SEGRO has bought the 50% interest in the APP joint venture that it did not already own from partner Aviva ...
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K+N to add to pharma offering with company acquisitions
Global logistics services provider Kuehne + Nagel (K+N) has said that it continues to prioritise its pharma and healthcare offerings “across all business units and all regions worldwide”.To that end, it has confirmed that it is to acquire two specialised pharma logistics companies.In Turkey, K+N has entered into an agreement ...
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Avolon snaps up CIT Group’s aviation leasing business
Avolon Holdings, the Ireland-based international aircraft leasing company, has announced the completion of its acquisition of the aircraft leasing business of CIT Group Inc.The deal doubles Avolon’s size and creates the world’s third largest aircraft leasing platform.Avolon now serves 149 customers in 62 countries.The combined business had an owned fleet ...
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Dachser acquires majority interest in Irish partner, Johnston Logistics
Dachser has become the majority shareholder in its Irish partner, Johnston Logistics, allowing German supply chain operator Dachser to expand and strengthen its logistics network in northwest Europe.Michael Schilling, chief operating officer of road logistics at family-owned Dachser, said: “Our customers in Ireland benefit from uniform services and quality standards, ...
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DSV airfreight outpaces market on UTi acquisition
DSV recorded improvements in profits, revenues and airfreight demand during the first quarter of the year as it continued to benefit from its acquisition of UTi and market growth.The Copenhagen-headquartered freight forwarder saw first-quarter airfreight demand improve by 20% year on year to 147,439 tonnes. The forwarder estimates that the ...
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Panalpina snaps up Danish and Kenyan forwarders
Panalpina has announced two acquisitions: a Danish logistics operator with a seafreight focus and a Kenya-based perishables specialist in the export of flowers and vegetables.The Switzerland-headquartered logistics giant will acquire the family-owned Kenyan forwarder Air Connection, subject to conditions.The deal comes two years after Panalpina increased its presence in Kenyan ...
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UPS to acquire Ireland-based Nightline Logistics
UPS has entered into a definitive purchase agreement to acquire Nightline Logistics Group, an express delivery and logistics companies in Ireland.Nightline is a privately held company. Terms of the acquisition were not disclosed and the deal is subject to customary closing conditions, including regulatory approval.“Operating for more than 40 years ...
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Handler touches down in the US
Middle East-owned handler dnata has broken into the US market with its purchase from Lynx Holdings to acquire its AirLogistix USA cargo operations at Houston George Bush Intercontinental Airport.The 30,000 sq ft facility includes the airport’s only dedicated perishable cargo handling centre for products such as pharmaceuticals, fruits, vegetables, fish ...
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Kerry set for CIS forwarding acquisition as it offloads HK airfreight terminal
Kerry Logistics increased its profits and revenues last year and has also revealed plans to offload a stake in a Hong Kong cargo terminal subsidiary, to invest in the CIS states and to grow its e-commerce business.In a stock exchange filing, the Hong Kong-headquartered logistics firm revealed that subsidiary Torres ...