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14. Oktober 2016 market – a focus Research Center on deals activity

Deal 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 KH Deal 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 StockStock Exchange Exchange Announcement 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 Intelligence

Deal 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 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 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 Railways (AZD) and Rusagrotras, the Russian rail 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 , 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 and the east of . 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 -based commercial and residential Development and developer and NC 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 ’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 to Deal 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 issues Deal 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 edition

Deal 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 a Deal 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-Analytics Deal 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 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 and Deal 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 Sanomat

Deal 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 [email protected] [email protected] Tel.: (0211) 981 2852 Tel.: (069) 95 85-5704

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