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Deal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
www.pwc.de
Deal News
Transportation
& Logistics
What's up in your
14. Oktober 2016
market – a focus
on deals activity
Research CenterDeal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
VTG 29% stake Morgan Stanley has acquired a 29.03% stake in German rail logistics
acquired by Morgan company VTG, according to German stock exchange filings. The US
Stanley for EUR bank bought its shares on Wednesday from Andreas Goer, a member of
242m
VTG's supervisory board, for a total of EUR 241,880,967. VTG shares
ended almost 9% higher Thursday at EUR 27.17 apiece, corresponding to
a market cap of EUR 776m. Credit Agricole is understood to have
advised Morgan Stanley in the transaction. In May, WL Ross announced
it had sold approximately 20% of VTG to Kuehne Holding, completing
the EUR 358m divestiture of its shares Andreas Goer's filing can be read
here.
10.05.2016 Stock Exchange Announcement(s) (Edited)
CFR Marfa’s new CFR Marfa, the state-owned Romanian rail cargo company, will see a
sale attempt to be new sale attempt in the first quarter of 2018, the Romanian-language
launched in 1Q18 daily Bursa reported. The item quoted a company statement, according
(translated) to which a restructuring process started in June 2016 would be followed
by steps towards privatization in the first quarter of 2018. For the first
time in many months CFR Marfa managed to generate profit in
September, said the company quoted by the report. In June 2013, GFR, a
private Romanian rail cargo company, won the tender for a 51% stake in
CFR Marfa, but the bidder failed to raise the promised amount of EUR
202m, as reported. Last year the company, owned by the Ministry of
Transportation, generated losses of RON 159m (EUR 35.4m), on a
turnover of RON 775.9m (EUR 172.9m), as per its own website.
12.10.2016 Bursa
Pekaes Pekaes ’ shareholders have tendered for sale 10,087,503 of the company
shareholders tender shares, in a takeover offer announced by KH Logistyka and PEK II SCS
for sale 10.08m on 19 August, the offer manager, Pekao IB, has announced. The
shares under KH subscriptions covered 10,087,503 of the company shares, representing a
Logistyka and PEK 33.05% of total votes at the General Meeting, the announcement on 10
II SCS tender offer October said. This means the fulfillment of a condition of the tender
offer, to obtain a minimum amount of shares covered by the
subscriptions, after which the bidders will own at least 90% of the
company shares in total, entitling to 90% of total number of votes at the
GM, the statement said. According to the Polish agency PAP, which
reported on this development, the subscriptions placed value the
transaction at PLN 152.3m (USD 39.7m). The tender offer was for
11,288,717 shares, representing 36.99% in share capital of Pekaes, as
previously announced. As a result of the tender offer, KH Logistyka and
PEK II SCS, which own in total a 63.01% stake in Pekaes, intended to
achieve 30,520,870 shares, representing 100% of Pekaes share capital.
The subscription period has run to 10 October. PEK II SCSp,
headquartered in Luxembourg, and Warsaw- headquartered KHDeal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
Logistyka are controlled by Strada Holding S.a.r.l. and Innova/5 L.P., as
reported. Polish transportation and logistics company Pekaes has a
market capitalisation of PLN 455.07 (USD 118.8m). Earlier, on
29.9.2016, the offer manager, Pekao Investment Banking (Pekao IB),
announced that KH Logistyka and PEK II SCS have increased the tender
offer for Pekaes from PLN 14.15 to PLN 15.10 (USD 3.90) per share,
commencing on 29 September.
11.10.2016 Stock Exchange Announcement (Translated)
29.09.2016 Stock
StockExchange
ExchangeAnnouncement
Announcement(Translated)
(Translated)
Pantechnik Agile Network, a Chesterfield, Missouri-based logistics software firm,
International to be will buy Pantechnik International, an English provider of logistics and
acquired by Agile shipping software company. No financial figures were revealed. The deal
Network will expand Agile Network's reach into Asia and Europe, a key
component of the firm's long term strategic plan. Pantechnik is a
provider of software-as-a-service enterprise shipping and supply chain
solutions in the European market. The company has offices in London,
Amsterdam, Singapore and Chicago and works with more than 170
carriers worldwide and has customers in 36 countries in Europe and
Asia. Agile Network makes enterprise shipping software, customer
returns management solutions, and transportation management
execution solutions for over 1,200 clients and hundreds of Fortune 500
Brands in the United States, Canada, Latin America, United Kingdom,
European Union and Asia-Pacific. The merger is expected to be complete
in the first quarter of 2017.
11.10.2016 Company press release.
Marken nearing end Marken, the provider of logistics services for clinical trial groups, is in
of sale process - the final stages of its sale process, said two sources briefed on the
sources situation. Both of the sources said the company, with headquarters in
North Carolina and the UK, ran a strong process, with the second source
adding that the last round of bids from prospective suitors happened a
few weeks ago. Marken is likeliest to sell to a strategic suitor given that
many large logistics companies are also focused on the medical space,
said the first source. The second source said that both strategic and
financial groups looked at Marken. In early July, this news service
reported that Marken was set to receive initial bids from suitors in late
July. The company had EBITDA of EUR 40m to EUR 45m and could
fetch 10x to 12x EBITDA in a sale, the report said. Reuters previously
reported that the company launched a sale process alongside advisor
UBS, listing FedEx and UPS as potential suitors. In December 2009,
Marken was acquired by private equity firm Apax Partners for around
GBP 975m. Lenders that backed the 2009 buyout ultimately took control
of Marken.
10.10.2016 Proprietary IntelligenceDeal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
DPD acquires DPD DPD, the international parcel and express service provider, has acquired
Zeitfracht the majority stake in DPD Zeitfracht GmbH & Co. KG, the company
announced in a German press release. The parties agreed not to disclose
purchase price. The contracts have already been signed, but the deal still
needs authority approval. The takeover is expected to be closed by 1
November, the DPD figure says. The transaction includes the acquisition
of all 470 employees and locations of DPD Zeitfracht.
10.10.2016 Company Press Release (Translated)
RZD ready to Russian state-owned railway company RZD is ready to make
liberalize concessions to private businesses to allow them to enter the locomotive
locomotive business but proposes to start reforms not earlier than in five years,
business; minority reported Russian newspaper Vedomosti. The item cited documents sent
stake sale possible by RZD to the Ministry of Economic Development with amendments to
(translated) the target model of the freight market, in which RZD proposes to divide
the vehicular (locomotives) and infrastructure (routes and train stations)
businesses into separate units. RZD proposes to consider, in five years, a
possibility to place the first business into a subsidiary and merge it with
Federal Freight Company, the operator of railway wagons. RZD also
allows the possibility of selling a minority stake in such created
company, but believes that a number of conditions would have to be
fulfilled, the article reported. In particular, one of the conditions would
be to develop a pricing system separately for infrastructure and
transport activities in railway transport, according to the report. The
article noted that RZD proposes not to rush with allowing private
companies to management of locomotives, and to begin the reforms
after 2021. In 2015, RZD’s revenues from locomotive traction services
stood at RUB 1.15tn and in 1H16 they amounted to RUB 593bn (USD
9.5bn), the item reported. RZD's former president Vladimir Yakunin was
strongly against providing rolling stock operators the right to operate
locomotives on the general use railway tracks, the paper reported,
adding that now they are provided only by RZD.
10.10.2016 Vedomosti
Rusagrotrans and Azerbaijan Railways (AZD) and Rusagrotras, the Russian rail
Azerbaijan Railways infrastructure operator providing transportation of grain and agribulk
form Azrustrans JV cargoes by specialized railcar fleet, have established a joint enterprise –
(translated) Azrustrans, reported Vedomosti. The Russian newspaper quoted a
member of Rusagrotras Board of Directors Oleg Rogachev and Dzhavil
Guliyev – Azrustrans General Director, for the information. Azrustrans
was registered in Baku, on 6 September 2016, the paper reported citing
database of the Azerbaijan ministry of taxes. AZD holds a 51% stake in
the company and the rest is owned by Rusagrotras, both Rogachev and
Guliyev confirmed. Azrustrans will lease grain railway cars from both
sides, and then it will have its own park, according to Rogachev, adding
that the need is for 2,500-3,000 grain railway cars. Azrustrans is also
looking to transit grain, with focus on Iran and the east of Turkey.Deal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
Therefore, the partners also plan to build on a grain terminal the border
of Azerbaijan and Iran, with a capacity of 30,000 tonnes per year and
the possibility of expansion, both Rogachev and Guliyev stated.
Rogachev estimates the project at USD 20m-USD 30m (including land),
Vedomosti reported. Rusagrotrans is part of RTC Group, a multi-service
rail freight holding company, its website shows.
10.10.2016 Vedomosti
Posti to acquire The Finnish postal services group Posti is to buy the food transport
Kovalainen company Kovalainen, according to Arvopaperi. The Finnish language
item cited a statement from Posti and said that the purchase price was
not disclosed. Kovalainen has a turnover of approximately EUR 15m and
a staff of about 180. According to Posti, the aim is to conclude the deal
on 10 October.
07.10.2016 Arvopaperi
Coalco Coalco Development, a Moscow-based commercial and residential
Development and developer and NC Kazakhstan Temir Zholy, the state-owned Kazakh
NC Kazakhstan railway operator, have signed an agreement to establish a joint venture,
Temir Zholy sign LLC Central Dry Port, in Domodedovo, Moscow Region, Coalco
agreement to announced on 5 October. The aim of the Central Dry Port project is to
establish Central increase trade turnover between Kazakhstan and Russia by using
Dry Port JV in Kazakhstan's infrastructure in the transit transport corridor "New Silk
Domodedovo Road", as well as increasing the infrastructure capacity of Moscow and
the Moscow region, the announcement said. Central Dry Port, the
railway container terminal with capacity of 400,000 containers per year,
will be able to execute the full cycle of goods processing from containers,
the statement said. Russia and Kazakhstan are also planning to build a
transportation and unloading complex with capacity of 400,000 TEU,
according to Russian newspaper Kommersant, which reported on this
development. Total investments in the project are estimated at USD
169m, the paper reported. The agreement was signed with NC
Kazakhstan Temir Zholy’s subsidiary AO KTZ Express, Kommersant
reported. The shareholder structure will be established in October, but
the participants have not disclosed details. Kommersant has learned
from a source familiar with the situation that the parties may be equal
shareholders, with 50% stakes.
06.10.2016 Company Press Release (Translated)
ACCC releases The Australian Competition and Consumer Commission (ACCC) has
combined released a combined Statement of Issues on alternative proposals to
Statement of Issues acquire Glencore Coal’s rail business (GRail) by Aurizon (ASX:AZJ) and
on proposals to Pacific National. A portion of the announcement noted that the ACCC
acquire GRail by recognises that coal producers are generally well-resourced,
Aurizon and Pacific sophisticated parties that may be able to protect their own interests,
National even if Aurizon or Pacific National acquires GRail. The ACCC is going toDeal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
be exploring their ability to leverage competition between Aurizon and
Pacific National or to bypass both haulage providers by acquiring their
own rolling stock or by sponsoring new entry. The ACCC invites
responses to the Statement of Issues by 21 October 2016. Its provisional
date for a final decision is 15 December 2016. Further information is
available at the ACCC’s public register.
06.10.2016 Regulatory Authority Press Release (edited)
DHL acquires MIT DHL Supply Chain, the contract logistics specialist within Deutsche Post
Safetrans DHL Group, has acquired the 100% stake in MIT Safetrans, the leading
Italian logistics provider for highly specialized and high added-value
niche markets. The transaction forms the leading logistics player for the
technological, hi-tech and life sciences and healthcare industry in Italy.
DHL Supply Chain Italy adds 20 operating sites to its network, boosting
the company's presence in Italy to over 800 colleagues and
approximately 60 facilities. It is the second purchase of similar type in
Italy after acquiring Eurodifarm in 2011. Both parties have agreed to
keep the purchase price confidential. The purchase agreement sees MIT
maintaining its management independence and current distribution
structure. The entity will also retain its membership of the leading
specialized European high-tech network TENESO, of which MIT is a
founding member. DHL Supply Chain recognizes the company's
capacities and competencies and has fully confirmed its confidence in
the current management team led by Marco Crenna.
05.10.2016 Company Press Release(s) (Edited)
OTLK Russia’s Ministry of Economic Development has supported the
reorganisation into reorganisation scheme for Integrated Transport & Logistics Company
asset-light format (OTLK/ITLC), into an asset-light format, as proposed by the state-
proposed by RZD owned railway operator RZD, reported Kommersant. For the
approved by information the Russian newspaper quoted a letter by Deputy Minister
economy ministry of Economic Development Nikolai Podguzov, sent to the government on
(translated) 30 September. At the same time, the ministry continues to insist that in
future, the OTLK assets are transferred under the direct control of RZD,
the article added. The OTLK joint venture was formed in 2014 by RZD,
Kazakh Railways and Belarusian Railways as a logistics company. The
three shareholders were expected to transfer a number of assets to
OTLK, but it was only done by RZD, the article reported. RZD, which
transferred to OTLK a 50% stake + 2 shares in container operator
Transcontainer and a 100% stake minus one share in its subsidiary RZD
Logistics, received 99.84% in OTLK, while Kazakh Railways and
Belarusian Railways received a 0.08% stake each. The item reported that
Podguzov agrees on the scheme proposed by RZD, under which the
shares of Transcontainer and RZD Logistics will be owned by RZD’s
subsidiary companies. However, in order to keep control over them, the
Ministry of Economic Development proposed to amend RZD’s charter,
giving the board of directors the right to to make decisions on key issuesDeal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
on the activities of Transcontainer and RZD Logistics. The members of
the board of directors should vote in such cases in accordance with the
government's directives. The ministry believes that the reorganisation
will be completed by 31 December 2017, the report added. As previously
reported in the Russian press, RZD has predicted that in 2020, OTLK
revenue would reach USD 5.8bn.
05.10.2016 Kommersant
Royal Mail Royal Mail plc (RMG.L) today announces that General Logistics Systems
subsidiary GLS (GLS) has acquired the regional next day parcel delivery company,
acquires Golden Golden State Overnight Delivery Service Inc. (GSO). GSO is a leading
State Overnight provider of regional next day delivery services principally in California,
Delivery Service for (GSO also operates in Arizona, Nevada and New Mexico). The
about USD 90m acquisition provides GLS with a focused and targeted market position in
this geography. GSO offers priority, ground and freight shipping
services, mainly to business-to-business customers across a wide range
of industries. It operates a hub and spoke network of 36 facilities, with
around 1,900 employees. The area in which GSO operates has a Gross
Domestic Product (GDP) roughly equivalent to the UK. It is experiencing
faster GDP growth than both the UK and continental Europe. With
around 13.5 million deliveries per year, GSO has approximately 1% share
of its addressable market (States of California, Arizona, Nevada and New
Mexico). It is well-positioned to benefit from growth in intra-State
deliveries within its existing geographic footprint. The total
consideration paid for 100% of the shares in GSO is USD 90m
(approximately GBP 70m), which will be funded from existing resources.
The company is being acquired on a debt free, cash free basis. GSO
generated revenue of approximately USD 114m in the year ended 31
March 2016. The transaction is expected to be economic profit accretive
for GLS in 2019-20. GSO will be fully consolidated within GLS for
reporting purposes but will be managed as a separate entity. The
company was established in 1995 by Dana Hyatt, Chief Executive
Officer, who will continue to lead the company, together with GSO's
existing management team.
04.10.2016 Company Press Release(s)
MITSafetrans MITSafetrans, Italy's leading logistics group for the medical sector, has
acquired by been acquired by Deutsche Post DHL, Italian language daily Milano
Deutsche Post DHL Finanza reported. The report cited a company statement noting that
(translated) 100% of MITSaftetrans was acquired by DHL Supply Chain Italia for an
undisclosed amount. The report said that MITSafetrans' CEO Marco
Crenna will remain in post and that the deal value could be EUR 48m.
04.10.2016 Milano Finanza daily editionDeal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
Ferrovie dello Stato Ferrovie dello Stato (FS), an Italian railway network, plans to merge
merger with Anas to with Anas, an Italian highway agency, in 1H17, Italian-language daily
take place in 1H17 Milano Finanza reported. The report cited Gianni Vittorio Armani, the
(translated) CEO of Anas who noted that the agency would have to be transferred out
of the public administration so it could have financial autonomy before
the merger with FS could go ahead. The report cited Armani as saying
that a valuation of Anas also needed to be carried out.
30.09.2016 Milano Finanza daily edition
UK Mail to be Deutsche Post DHL Group [FRA:DPW], a Germany-based mail and
acquired by logistics group, has reached an agreement on the terms of a
Deutsche Post at recommended cash offer to acquire the entire issued and to be issued
GBP 4.40 per share ordinary share capital of UK Mail Group plc (UK Mail) [LON:UKM], one
of the largest integrated mail and parcel operators within the UK.
Summary of the recommended cash offer: The boards of Deutsche Post
DHL and UK Mail are pleased to announce that they have reached
agreement on the terms of a recommended cash offer pursuant to which
Deutsche Post DHL will acquire the entire issued and to be issued
ordinary share capital of UK Mail (the “Offer”). The Offer is to be
effected by means of a scheme of arrangement under Part 26 of the
Companies Act. Under the terms of the Offer, UK Mail Shareholders will
be entitled to receive 440 pence in cash for each UK Mail Share held.
The Offer assumes that UK Mail Shareholders will be entitled to receive
an interim dividend of 5.5 pence per UK Mail Share (the “Agreed
Dividend”). The Offer values the entire issued ordinary share capital of
UK Mail at approximately £242.7 million. The Offer Price represents: (i)
a premium of approximately 43.1 per cent. to the Closing Price of 307.5
pence on 27 September 2016 (being the latest practicable date prior to
this Announcement); and (ii) a premium of approximately 43.2 per cent.
to the volume-weighted average price for the three-month period ending
on 27 September 2016 (being the latest practicable date prior to this
Announcement) of 307.2 pence. The Offer is conditional on, amongst
other things, the approval of UK Mail Shareholders, sanction of the
Scheme by the Court and obtaining the merger control clearance from
the European Commission. Deutsche Post DHL Group‘s cash offer of
GBP 4.40 per share values the entire issued and to be issued ordinary
share capital of UK Mail at GBP 242.7 million, which represents a
premium of 43.1 per cent over the closing price per UK Mail share on 27
September, 2016. The Directors of UK Mail intend to make a unanimous
recommendation that company shareholders accept the offer.
28.09.2016 Company Press Release(s) (Edited)
OTLK: new Integrated Transport & Logistics Company (OTLK/ITLC) reorganisation
reorganisation scheme into an asset-light format, proposed by Russia’s state-owned
scheme proposed by railway operator RZD, was unsatisfactory to Russia’s Ministry of
Rosimushchestvo Economy and the Federal Property Management Agency
and Ministry of (Rosimushchestvo), reported Kommersant. The Russian daily quoted aDeal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
Economic source familiar with a letter by Dmitry Pristanskov - Deputy Minister of
Development - Economic Development and the Head of Rosimushchestvo, sent to the
report (translated) government last week. Rosimushchestvo and the Ministry of Economic
Development have created a new scheme for dividing OTLK, the item
reported. The OTLK joint venture was created by RZD, Kazakh Railways
and Belarusian Railways as a logistics company and the operator of rail
wagons and cargo terminals. According to the report, the three
shareholders were expected to transfer a number of assets to OTLK.
However, it was done only by RZD, which transferred to OTLK a 50%
stake + 2 shares in container operator Transcontainer and a 100% stake
minus one share in its subsidiary RZD Logistics. As a result, RZD
received 99.84% in OTLK, while Kazakh Railways and Belarusian
Railways received a 0.08% stake each. In November 2015, RZD
proposed an asset-light (without assets) format for OTLK – which would
involve removing from it Transcontainer and RZD Logistics, the item
reported. Meanwhile, according to Pristanskov, the above scheme will
not bring Transcontainer and RZD Logistics under the direct control of
RZD, and it does not allow RZD to get dividends from these assets.
Rosimushchestvo and the ministry have instead proposed a new scheme.
The Ministry of Economic Development proposes to transfer the OTLK
business into a new entity in a parity ownership of Russia, Kazakhstan
and Belarus, and merge OTLK itself, with the Russian assets, into RZD,
the item reported. As previously reported in the Russian press, RZD has
predicted that in 2020, OTLK revenue would reach USD 5.8bn.
28.09.2016 Kommersant
NPF NPF Blagosostoyanie, the Russian non-state pension fund controlled by
Blagosostoyanie the state-owned railway group RZD, may sell its stake in
may sell TransContainer, the listed Russian intermodal freight transport
Transcontainer
stake to RDIF and company, reported Russian newspaper Vedomosti. The 24% stake may
foreign investors - be acquired by Russian Direct Investment Fund (RDIF) together with
report (translated) foreign investors. NPF Blagosostoyanie is discussing with RDIF a sale of
a TransContainer stake, Vedomosti learned from three sources close to
top managers of NPF, TransContainer and RZD. Together with RDIF,
Arab funds and DP World (Dubai) may participate in the deal, the item
reported citing a source close to one of the parties to the negotiations.
The market value of the 24% stake in TransContainer stood at RUB
11.9bn (USD 185.9m) on the Moscow Exchange on Tuesday (27
September), Vedomosti reported. The representatives of RZD and
Russian transportation group FESCO, which owns a 24% stake in
TransContainer, did not comment on the negotiations for the sale of
NPF Blagosostoyanie’s stake in the company, the article reported.
According to the report, NPF Blagosostoyanie acquired a 9.25% stake in
TransContainer in April from EBRD, bringing its ownership to 20.56%.
Afterwards, a fund spokesperson has said that the stake of NPF
Blagosostoyanie in the operator exceeded 24%. The fair value of the
stake is no less than RUB 10bn, according to Infoline-AnalyticsDeal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
Executive Director Mikhail Burmistrov, who also sees potential for the
increase of the value of the stake to RUB 12bn towards the end of 2016,
the article reported.
28.09.2016 Vedomosti
Pekaes looking for Polish listed transportation and logistics company Pekaes is looking to
general cargo and acquire, according to Polish newspaper Parkiet. Pekaes is mainly looking
intermodal for companies operating in the general cargo and intermodal segments,
companies for which will not require restructuring and allow for fast integration with
acquisitions the Pekaes group, the company CEO Maciej Bachman was quoted as
(translated) saying. However, possibilities to acquire relevant companies at
acceptable price are limited, according to Bachman, speaking in an
interview. Also, Pekaes quite recently changed its strategic investor, a
factor that also made an impact on the ongoing negotiations, he noted.
Pekaes’ new strategic investor is private equity Innova Capital. The new
majority owner supports the development of the group via acquisitions,
Bachman noted. In response to a Parkiet query what sum Pekaes has
available for acquisitions, Bachman said that at the end of June, Pekaes
had around PLN 130m (USD 33.8m) in cash available and the company
has no loan obligations. The company wants to use the accumulated
funds on the development of the Pekaes group and it could use external
financing, should there be such necessity, Bachman added. Innova
Capital, seeks to acquire all company shares under a tender offer,
offering PLN 14.15 a share, the item also reported.
27.09.2016 Parkiet
AsstrA looks to AsstrA Associated Traffic, a private, Switzerland-based transport and
raise up to USD freight-forwarding company, is looking to raise USD 25m-USD 100m by
100m, considers selling a less-than-51% stake, CEO and controlling shareholder Dmitrij
acquisitions - co- Lagun said. The company is also considering acquisitions in the US and
owner the EU and has identified potential targets in Poland and Germany, he
added. Proceeds from the stake sale will be invested in geographical
expansion, and in new automation and logistics process integration
projects, Lagun said. AsstrA prefers strategic investors, but would
consider other offers, he said. Lagun expects Asstra’s turnover to grow
by 20% this year, he said. AsstrA has offices in 13 European and Asian
countries, employing more than 800 people.
26.09.2016 Proprietary Intelligence
Finand acquired by Finand, a French public and tourist transportation services provider, has
RATP been acquired by RATP Developpement, the public transportation
Developpement subsidiary of the French transportation and logistics company RATP,
according to an announcement from the latter. Finand has a headcount
of 131 and generates revenues of EUR 15m, according to Capital Finance.
The daily said that the company is controlled by the Parsy family.
24.09.2016 Company Press Release (Translated)Deal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
LTP Logistics LTP Logistics Oy, a Finnish company specializing in food logistics, has a
acquired by Vaaka new majority owner, the private equity investor Vaaka Partners, which
Partners has acquired a majority stake in the company. The arrangement will
enable LTP Logistics to achieve strong growth in the management of
goods flow in the food sector. In connection with the transaction, Matti
Perkonoja, former CEO of the meat producer HKScan, was appointed as
the chairman of LTP Logistics’ board of directors. LTP Logistics
specializes in managing the flow of goods in the food sector, and its main
clients include small and medium-sized food producers. LTP Logistics
combines the food deliveries of multiple producers into larger
consignments and delivers them to the distribution networks of retail
chains. The company has a strong potential for growth driven by
changing consumption patterns that will increase the demand for novel,
flexible, and more efficient solutions in food supply chain management.
The company’s turnover is approximately EUR 20m, and it currently
employs 150 people. The founders of LTP Logistics Oy, Matti Tuominen
and Jari Aaltonen, will retain stakes in LTP Logistics and continue
working for the company. In addition to LTP Logistics, Vaaka Partners
has also acquired majority holdings in two other companies belonging to
the same service chain, Lännen Teollisuuspalvelu Oy and LTP Service
Oy.
23.09.2016 Company Press Release(s) (Edited)
Kajon could list in Kajon, the Finnish transport company, could list but at the earliest in
2018 (translated) July 2018, according to Talouselama. The Finnish-language piece cited
Jorma Palomaki, the company’s founder and chairman, who said the
company’s aim is to list and as the Finnish taxi sector has just undergone
reforms, it is possible for the group to seek external investors. He said
the group has not yet begun its IPO preparations because it was waiting
for the regulatory changes. The earliest possible listing date would be 1
July 2018.
23.09.2016 Talouselama
Nurminen Logistics Nurminen Logistics Group has started a strategic collaboration with the
and Rustranscom Russian Rustranscom group. This will see the creation of a jointly owned
create JV company, NR Rail, a subsidiary of the Nurminen Logistics Group that
will offer new alternatives for import and export traffic between Finland
and Russia. Rustranscom is one of the largest providers in a number of
areas, including forest industry and agricultural products railway
transport, with a rolling stock encompassing more than 44,000 wagons.
The new agreement on international railway transport concluded
between Finland and Russia is due to be ratified in the near future. In
practice, the bi-lateral agreement sees the deregulation of rail transport
between Finland and Russia in the Finnish rail network. Previously, this
was subject to a Finnish State Railways (VR) monopoly. The change will
be significant, as the total value of the railway logistics market in Finland
is valued at EUR 450m, with rail transport connecting Finland andDeal News – Transportation & Logistics
What's up in your market – a focus on deals activity, Oktober 2016
Russia accounting for around a third of this. NR Rail is due to invest in
modern locomotives and enhanced cost-effectiveness. The amount and
the schedule of investment in locomotives will depend on the
development of customer volumes. In future, Nurminen Logistics will be
able to offer its own locomotives as part of a comprehensive service
offering comprising wagons, terminals, railway yards and forwarding
services at border crossings in Imatra, Niirala and Vainikkala.
22.09.2016 Company Press Release(s)
Herbert Flesche Herbert Flesche, an insolvent German logistics company, has attracted
attracts interest of the interest of a number of potential investors. A German-language
potential buyers statement issued by Gregor Baeuer, the preliminary administrator of the
(translated) company, said that most of the potential buyers are strategic investors.
Interested parties will be afforded the opportunity to have an in-depth
look at Herbert Flesche over the next few weeks. Braeuer hopes to be
able to disclose more information next month. Herbert Flesche has 170
employees.
20.09.2016 Company Press Release (Translated)
Sykes Seafood's JJ Food Service Limited is pleased to announce the purchase of the
local delivery Sykes local delivery operation, which is currently based at Sykes
operation bought by Manchester headquarters. The purchase agreement comprises the
JJ Food Service existing customer base, goodwill and relevant staff currently involved in
this division of the Sykes business, the business will trade under the JJ
Food Service name. The purchase underpins JJ Food Service ongoing
commitment to developing its seafood customer base and its increasing
presence in the fish and chip sector, whilst allowing Sykes to focus on its
core businesses which is to grow and cement its reputation as a major
producer and supplier to the Foodservice, Manufacturing and Retail
sectors. The two businesses are aiming for a seamless transition of
operations and customer interactions and the proposed implementation
date is earmarked as the 1st October 2016.
20.09.2016 Company Press Release(s)
Y Auramaa acquires The Finnish transport company Y Auramaa has signed an agreement to
Tyvi (translated) acquire Tyvi, the Finnish transport company, according to Etela-Suomen
Sanomat. The item cited a statement form the companies and said that
the two companies have been working in co-operation for a long time
and the acquisition will boost the operations of both the companies in
the current competitive climate. The target had sales of EUR 6.7m.
19.09.2016 Etelä-Suomen SanomatDeal News – Transportation & Logistics What's up in your market – a focus on deals activity, Oktober 2016 Contact Jörg Bredy Andreas Mackenstedt Moskauer Straße 19 Friedrich-Ebert-Anlage 35-37 40227 Düsseldorf 60327 Frankfurt am Main Joerg.bredy@de.pwc.com Andreas.mackenstedt@de.pwc.com Tel.: (0211) 981 2852 Tel.: (069) 95 85-5704 Legal Disclaimer: The information included in this Newsletter is only meant for general information purposes and not intended to replace consultation with respect to concrete technical advice. We accept no responsibility for any actions taken as response hereto. While we have made any attempt to ensure that the information contained in this Newsletter has been obtained and arranged with due care, we accept no responsibility for the completeness of the information. Certain references in this Newsletter provide you with further information or with pronouncements maintained by third parties over whom we have no control. We make no representations as to the completeness or any other aspect of such information or pronouncements. The Newsletter is solely meant for your information; the Newsletter or copies thereof shall not be passed in whole or in part to any third party and is not to be published or referred to in a public document, the internet or any other public media. We would like to emphasize that the special features of electronic mails incur the danger of technical problems (e.g. caused by viruses). Therefore we may not accept any responsibility for the integrity of our e-mails after they have left our sphere of control. © September 2016 www.pwc.de
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