Deal News Transportation & Logistics What's up in Your Market
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Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, January 2015 www.pwc.de Deal News Transportation & Logistics What's up in your 15. January 2015 market – a focus Research Center on deals activity Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, January 2015 Air France-KLM Air France-KLM announces the successful completion of the sale of sells Amadeus 9,857,202 shares of the Spanish company Amadeus IT Holding S.A., shares representing representing approximately 2.2% of the share capital of the company. 2.2% of share The net proceeds of the transaction amounts to EUR 327m. The group capital continues to hold an exposure to 9,900,000 Amadeus shares in the framework of the hedging transaction that was announced on November 25, 2014. Amadeus IT Holding S.A. is the parent company of the Amadeus group, a leading provider of IT solutions to tourism and travel industries. The shares of Amadeus IT Holding S.A. are traded on the stock exchanges of Madrid, Barcelona, Bilbao and Valencia. 16.01.2015 Stock Exchange Announcement(s) Nawinia could sell Nawinia, the Russian privately held logistics services provider could up to 49% to consider the sale of up to a 49% stake to finance buys, Chairman and co- bankroll M&A – owner Rustam Yuldashev said. The company, which has zero debt, will Chairman finance acquisitions using a mix of its own and borrowed funds, but could sell up to a 49% to a fund or a strategic player to bankroll bigger deals, he said. The Singapore-headquartered logistics facilities provider Global Logistic Properties (GLP) could be among the potential buyers, he said. Nawinia’s three owners would dilute their stakes in favour of a new investor, Yuldashev said, without elaborating. Nawinia, the result of merger of two local logistics companies, BM-Logistics and STS Asia, late November, expects USD 100m in revenues in 2015 rising to USD 500m in five to seven years, Yuldashev said. To reach this goal, it plans to acquire smaller local targets operating in the same sector starting in 2015, he said. The company is scouting the Russian and CIS markets in search of transportation and warehouses operating companies with revenues of between USD 10m and USD 100m, he said. The price tag in the sector averages two times EBITDA, he added, noting that EBITDA margins average at 5% to 7%. Nawinia operates an extensive supply- chain network, and provides transportation, shipment, customs registration, and warehouse logistics services and has offices in Moscow and Shanghai. 15.01.2015 Proprietary Intelligence Kvikkas.no Kvikkas.no, a Norwegian logistics and express delivery firm, would interested in actively consider takeover or merger approaches from larger peers or PE merger and sale firms, Chairman Eric Johansson said. The company reported NOK 36m opportunities - (EUR 3.9m) in turnover last year but recently signed a large contract, chairman which will contribute to a 25%-28% growth in 2015. It is expecting turnover to reach NOK 50m during the next financial year. Both a full and partial sale would be considered by the owners, Johansson said. 14.01.2015 Proprietary Intelligence Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, January 2015 Portugal's Portugal's government has delayed the privatization of the Cascais government delays commuter line serving Lisbon to allow the process to be handled by new privatization of state transport infrastructure group Infraestruturas de Portugal (IP), Cascais railway and reported Publico. The Lusophone publication cited officials as saying the other suburban government also wants IP to manage privatizations of other suburban lines - report railways serving both Lisbon and Porto currently operated by state rail (translated) group CP. CP will be obliged to bid in the Lisbon and Porto suburban rail privatizations, the report said. In 2013 Portugal's government indicated it would privatize the Cascais line and other commuter services in Lisbon and Porto but this process has faced successive delays. IP is being created via the merger of state railway infrastructure operator Refer and EP, the national highways agency. 14.01.2015 Publico Ambro could Ambro Logistics, a private Gdynia, Poland-based logistics company, is consider selling considering inviting a financial or sector investor to take a majority stake majority stake – in the company, CEO Jordan Zakolski said. The PLN 60m (EUR 13.8m) CEO turnover company has not yet entered talks or engaged external advisors, Zakolski added. "But it is certainly something we are considering as we grow the company." He said the company has not until now been active in looking for possible investors. Using Polish bank loans, the company recently concluded a PLN 6m (EUR 1.4m) construction project that increased its warehousing capacity in Gdynia. It now wants to increase its fleet of trucks and is aiming to increase its turnover. The engagement of a sector or financial investor could also open up international growth avenues, Zakolski added. Co-founders Zakolski and managing director Marcin Ambroziak each own 30%, with the remainder of shares split among smaller investors. 12.01.2015 Proprietary Intelligence MilkWays in EUR Dutch agricultural logistics company, MilkWays, is pursuing a EUR 5m 5m financing round financing round to support expansion, according to CEO and shareholder Diederik Brasser. MilkWays foresees selling a negotiable shareholding to a financial or strategic investor by mid-2015, Brasser said. MilkWays is a spinoff of Trilobes, a Dutch engineering company. Trilobes develops “aseptic” maritime supply chains, encompassing port terminals and tanker ships, for transporting pasteurised orange juice from producing countries such as Brazil to consuming markets. In the same vein, Brasser said, MilkWays will apply Trilobes’ technology and business model to create networks for moving dairy products to expanding consuming markets such as China. MilkWays will focus on underused trade routes, such as those linking Western Australia to Shanghai. Along with financial firepower, a backer should have shipping or agricultural expertise to develop shipping routes using the company’s technology, Brasser said 12.01.2015 Proprietary Intelligence Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, January 2015 PKP Cargo wants to PKP Cargo, the listed Polish railway cargo group wants to develop in the develop in Poland domestic market including via acquisitions, reported Parkiet, citing the including through company Chief Executive Adam Purwin. PKP Cargo also wants to acquisitions, could develop its business in Germany, the Polish daily reported. PKP Cargo is buy a small carrier considering the establishment of its own company in Germany this year, in Germany with the relevant assets in the form of locomotives, railway stock and (translated) employees. An alternative option is acquiring a small carrier, Purwin confirmed. PKP Cargo is getting closer to acquiring Czech rail cargo company Advanced World Transport (AWT), the paper also reported. According to Purwin, the company needs only the consent from the antitrust regulators of Poland, the Czech Republic, Slovakia and Germany, to finalize the transaction. He believes PKP Cargo will obtain the permissions within the next few months. PKP Cargo has a market capitalization of PLN 3.79bn (EUR 887.2m). As previously announced, the value of the AWT deal is EUR 103.2m. 12.01.2015 Parkiet Koch Spedition files Koch Spedition, the Austrian freight company, has filed for insolvency at for insolvency a regional court in Krems, ORF reported. The Austrian TV broadcaster (translated) pointed out that the company has entered a restructuring process without self-administration. A corporate information portal estimates the annual turnover of Koch Spedition at slightly more than EUR 5m. 09.01.2015 ORF Trainline intends to Trainline Investments Holdings Limited today announces its intention float in London, to proceed with an initial public offering (the "IPO" or the "Offer") of the admission expected Shares of Trainline plc (the "Company" or "Trainline") which is intended next month to be the holding company of Trainline Investments Holdings Limited ("TIHL", together with its subsidiaries and Trainline, the "Group"). Trainline intends to apply for admission of all of its ordinary shares (the "Shares") to the premium listing segment of the Official List of the Financial Conduct Authority (the "Official List") and to trading on the main market for listed securities of the London Stock Exchange plc (the "LSE", together, "Admission"). Trainline is the leading UK online provider of rail tickets by value of tickets sold and provides journey planning and booking solutions for rail travel. With customers booking advance fares with thetrainline.com or via the mobile app able to save an average of 43% versus booking on the day of travel, Trainline's mission is to help rail passengers save money, time and hassle by being the best place to plan and purchase rail travel online. It is expected that Admission will take place in February 2015 and that the Company will become eligible for inclusion in the FTSE UK indices. 08.01.2015 Stock Exchange Announcement(s) (Edited) Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, January 2015 BLS Cargo BLS Cargo, the Swiss rail cargo carrier, has repurchased a 45% stake in repurchases 45% the company owned by the German rail operator Deutsche Bahn, stake held by Tagesanzeiger reported. The Swiss daily said the deal was agreed at the Deutsche Bahn end of 2014. Financial terms were not disclosed. The share package has a (translated) nominal value of CHF 27m. A BLS Cargo spokesperson said the company is now independent, and open to new partnerships. 07.01.2015 Tagesanzeiger Porto's public The joint National Express and Alsa bid in the privatization of Porto bus transport operator STCP and underground system Metro do Porto has been privatizations excluded after being delivered after the deadline, according to Diario continue without Economico.