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, June 2014 www.pwc.de Deal News Transportation & Logistics What's up in your 13. June 2014 market – a focus Research Center on deals activity Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2014 Interporto di The auction for 60% stake in Interporto di Bologna, the Italian Bologna auction integrated logistics centre controlled by the city and provincial councils attracts no bidders - of Bologna, has attracted no bidders, the Milano Finanza reported. The report (translated) unsourced report said that the base price for the auction was set at EUR 29.6m. A previous report said that FS, the Italian railway network, was interested in taking a stake in Interporto. 13.06.2014 Milano Finanza daily edition Connexxion and Connexxion and Veolia Netherlands, two Dutch public transport Veolia likely to companies, are likely to merge their operations in the Netherlands next merge Dutch year, Dutch-language daily het Financieele Dagblad wrote, citing operations next Connexxion's General Manager, Bart Schmeink. He added the merger year (translated) would create a public transport company in the Netherlands with an annual turnover of over EUR 1bn and 14,000 employees, the item noted. Connexxion saw losses of EUR 58m for 2013, against a profit of EUR 2m for 2012, while the turnover in 2013 dropped from EUR 1bn in 2012 to EUR 967m in 2013. A merger with Veolia would create synergy advantages, Schmeink added, the report noted. Both Connexxion and Veolia are held by the French transport group Transdev, the article added. 12.06.2014 Het Financieele Dagblad NMBS/SNCB The management at Belgian railways NMBS/SNCB owned logistics looking for Belgian group NMBS/SNCB Logistics, is looking for private and public Belgian private and public investors to support a fresh business plan and a to be established new investors to support cargo company, French-language daily l’Echo wrote. The report cited a new SNCB Logistics document presented by the NMBS/SNCB management to the workers' cargo company - union representatives at NMBS/SNCB Logistics, disclosing how they report (translated) want to improve and optimize the logistics group. Talks with the German DB Schenker over a sale of NMBS/SNCB Logistics are ongoing but the NMBS/SNCB management no longer thinks they will succeed in this sale. Therefore, they are looking to establish a new company, without DB Schenker, in which the freight cargo operations of NMBS/SNCB (900 employees) will be concentrated, including SNCB Freight Services (900 employees), the item noted. The management at NMBS/SNCB will look for Belgian private partners such as the Port of Antwerp and ArcelorMittal and public partners such as the investment vehicles of the Walloon and Flemish government to support this new company, the report noted. The management aims at achieving an EBITDA of EUR 46m as from 2018 for the new cargo group, the article added. 11.06.2014 L'Echo Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2014 OT Logistics sees Krokus PE private equity has reduced ownership in OT Logistics, a Krokus PE reduce Warsaw-listed Polish shipping and logistics company, according to an ownership to 15% announcement on 10 June. Nova Polonia II, managed by Krokus PE, has stake sold a 9% stake in OT Logistics, Krokus PE announced. The value of the transaction exceeded PLN 25m (USD 8.2m). The shares were sold to institutional investors, via accelerated book-building, the statement said. Dom Inwestycyjny Investors handled the sale. As a result of the transaction, the fund reduced its ownership in OT Logistics from 24% to 15% stake, the statement said. Nova Polonia II, whose capital stands at EUR 100m (USD 135.3m), is the fourth fund managed by Krokus PE. OT Logistics market cap stands at PLN 326.93m (USD 107.7m). 11.06.2014 Company Press Release (Translated) GEFCO to make GEFCO, a French transport and logistics group, will make a EUR 1bn EUR 1bn acquisition acquisition alongside bolt-on buys, as it aims to double its revenue by by 2020; in talks 2020, Chairman Luk Nadal said. The company wants to increase its with smaller revenues to EUR 8bn by 2020 through acquisitions and organic growth. Russian target - This will be up from around EUR 4bn generated in 2013, the chairman chairman said, adding that GEFCO scans Europe, Russia, Latin America and Asia for deals. GEFCO is already in early stage talks with an undisclosed target based in Russia. GEFCO can close one or two deals by the end of the year, the chairman said. The bolt-on targets are companies with warehouse facilities and specific transportation systems worth between EUR 10m and EUR 50m, the chairman said. At the end of 2012, Russian Railways (RZD) acquired a 75% stake in GEFCO from PSA Peugeot Citroen for EUR 800m. Peugeot is likely to hold onto its 25% stake, as GEFCO provides upstream and downstream services for Peugeot. Peugeot wouldn’t want a competitor to gain access to GEFCO and is likely to be supportive of GEFCO’s M&A plans, a Paris-based banker familiar with the company said. GEFCO could look to acquire a freight forwarder, the banker added. GEFCO is an industrial and automotive logistics company providing solutions for industrial customers and is present in 150 countries. In 2012, the group recorded EUR 3.6bn in revenues and EUR 109m of operating income. 10.06.2014 Proprietary Intelligence ZSSK Cargo hopes The Slovak state-owned company ZSSK Cargo, hopes to sell a 66% stake to sell 66% stake in in its subsidiary ZSSK Cargo Intermodal for EUR 20m, reported Cargo Intermodal Hospodarske Noviny. The Slovak language item cited General Director for EUR 20m of YSSK Cargo, Vladimir Luptak as saying that the sale of the stake in the (translated) company focused on intermodal transport is expected to be completed by year end. 10.06.2014 Hospodarske Noviny Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2014 CSAD Jihotrans The Czech transport company, CSAD Jihotrans acquired a 100% stake in acquires 100% stake GW Train Regio, reported Mlada Fronta Dnes, citing CSAD Jihotrans in GW Train Regio co-owner, Robert Krigar. The Czech language item specified that the (translated) seller was the Czech company Inzenyrske a dopravni stavby (IDS). The item noted that CSAD Jihotrans is mainly active in the bus and trucks transport sector, while GW Train Regio -previously known as Viamont Regio - is active in the railway sector. GW Train Regio posted sales of CZK 692m (EUR 25m) in 2012, the report noted. 10.06.2014 Mlada Fronta Dnes AAE Cargo acquires AAE Cargo AG, part of the AAE group and leading leasing company of 66% stake in Cargo standard rail freight cars in Europe, will take over 66 per cent of Cargo Wagon from ZSSK Wagon for Euro 7 million, and thus will become the majority Cargo shareholder of the operating company for freight wagons of the Slovakian national railway. The remaining 34 per cent are to be held by ZSSK Cargo, the freight transport branch of the railway company. As part of the transaction, Cargo Wagon will purchase 12,450 freight wagons from the fleet of ZSSK Cargo for Euro 180 million. Cargo Wagon will manage this fleet and will lease back 8,218 wagons to ZSSK Cargo for a long term. "With the proceeds from the sale of the majority in Cargo Wagon and the sale of the wagons, ZSSK Cargo can take a large step toward its planned debt relief of the company", explained Karsten Sachsenröder, CEO of the AAE Group. "Since 1989, the AAE Group has been closely linked to Slovakia, and will use its know-how to optimise the management of the fleet." The basis for the involvement of the AAE Cargo AG in Cargo Wagon and for the purchase of the freight wagons of ZSSK Cargo was a Europe-wide invitation to tender of the Slovakian Ministry of Transport, in the course of which the contract was awarded to the AAE Cargo AG. 10.06.2014 Company Press Release* Havator acquires Havator is strengthening its operations and establishing a presence in Brunskogsgruppen’ Ljungby through the acquisition of the Brunskogsgruppen AB’s activities s heavy haulage and involving heavy haulage and special transport. The sale of these special transport activities means that Havator AB will take over personnel and vehicles, business and has set up in the Brunskog Group's premises in Ljungby from 1 June. The acquisition is timely for Havator, which is already strengthening its heavy haulage and special transport organisation. The acquisition will expand expertise, primarily within international transport, but will first and foremost supplement solutions for heavy haulage and transport. “Havator's heavy haulage and special transport activities are already established in Norrköping and Gothenburg, and with Ljungby we are gaining the perfect set-up for southern Sweden,” says Olof Kånge. 07.06.2014 Company Press Release* Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2014 RZD, Gek Terna RZD, the state-owned Russian railway group, together with Greek submit port of company Gek Terna, have submitted an application to participate in a Thessaloniki privatisation tender for the Greek port of Thessaloniki, Vedomosti privatisation tender reported. The Russian daily cited RZD’s Greek spokesperson. The application RZD/Gek Terna consortium is already participating the tender for the (translated) purchase of Greek rail operator TrainOSE, and rolling stock repair firm Rosco, the paper reported, citing the spokesperson.