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Deal News Transportation & Logistics What's up in Your Market 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 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 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.
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