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14. June 2013 market – a focus Research Center on deals activity

Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

Wikestrom & Wikeström & Krogius, the Finnish transport company, has been sold to Krogius sold to Blue the Danish transport company Blue Water Shipping, according to Turun Water Shipping Sanomat. The report cited Henrik Mahlberg, the owner of Wikestrom, who said the deal gives further resources for the company. The target had sales of EUR 23m last year, according to Taloussanomat. No deal price was revealed.

14.06.2013 Turun Sanomat

ID Logistics signs ID Logistics announced the acquisition of CEPL. The deal is expected to preliminary be completed by the end of July 2013. Based in Béville-le-Comte (Eure- agreement to et-Loir), CEPL, a French logistics provider specialist in automated acquire CEPL solutions for retail order fulfilment, offers its customers, manufacturers and retailers, detailed picking solutions. The company manages 600,000 square meters in 27 logistics sites. The Group now employs 2,200 employees in four countries (France, Spain, Germany and the Netherlands). In 2013, CEPL is expected to post revenues estimated at EUR 180m. With this acquisition, ID Logistics strengthens its offering in this business segment. The deal will also enable ID Logistics to reinforce its offer in e-commerce, with customers such as vente-privee.com. In addition, CEPL’s significant know-how in automation and retail order fulfilment will enable ID Logistics to provide innovative solutions for all the Group’s customers and also to deliver flexible and tailored logistics services to e-commerce companies. The deal will also strengthen ID Logistics’ European coverage, extending its footprint to Germany and the Netherlands and consolidating its longstanding positions in Spain. The combined entity will leverage on 168 facilities in 14 countries, representing 3.1m square meters in operation, with a workforce of 12,300 employees. The Group is expected to record pro forma revenues in 2013 above EUR 800m.

13.06.2013 Company Press Release

Quehenberger Austria-based Quehenberger Logistics issued a statement regarding the Logistics acquires takeover of freight assets in and from Luxembourg- certain Slovak and based rival Logwin: Quehenberger Logistics continues to expand Hungarian assets contract logistics The Salzburg-based company is expanding its presence from Logwin in Eastern Europe with two new sites in Hungary and Slovakia. The focus is on logistics solutions for the branches of Retail and Automotive. Quehenberger Logistics recently took over the sites Senec in Slovakia and Gyor in Hungary from Logwin Solutions. Quehenberger Logistics is a subsidiary of privately owned Austrian freight and logistics specialist Augustin Quehenberger Group.

12.06.2013 Company Press Release

Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

Wisskirchen Wisskirchen Logistik, a private German air cargo company, is in Logistik in talks to acquisition talks to further strengthen its market positioning within buy German Germany, according to founders Oliver Hellwig and Suleyman Demirci, companies - who are both managing directors. The company is in talks with a founders domestic entity active in the air cargo security space with revenue of around EUR 5m, Hellwig said, adding the objective is to acquire the majority of the company and close the deal in two months. A German company active in the sector of air cargo handling with revenue of EUR 15m is also in discussions with Wisskirchen. Several other smaller firms with revenue between EUR 5m and EUR 10m are under Wisskirchen’s radar, he noted. A joint venture agreement with an unidentified large player in the air cargo security space is also in the final stages of negotiations. Taking new investors on board is an option to finance M&A deals but the owners want to maintain a majority stake, Demirci said. The company has received approaches from private equity firms in the past but right now there are no ongoing talks, he added. An exit could be considered once the company has reached revenue of around EUR 100m. The company aims to reach revenue of EUR 30m within two years from the current EUR 15m, Hellwig said. It anticipates EUR 100m revenue in five to eight years, he pointed out. Organic growth will account on the total growth for 10% to 15% a year, the remainder will be generated by acquisitions and JVs. Broadening the product/service portfolio and entering new niche markets will be the company’s M&A focus. Buys to expand outside Germany are not planned for the next couple of years, he added. To date Wisskirchen’s growth has been financed with cash flow and credit lines, Hellwing noted.

11.06.2013 Proprietary Intelligence

Oesterreichische State-owned Austrian railway group Oesterreichischen Bundesbahnen Bundesbahnen not (OBB), is not interested in the privatisation of Slovak rival ZSSK Cargo, interested in ZSSK Wirtschaftsblatt reported. The newspaper quoted an OBB statement. Cargo privatisation The article highlighted that Rail Cargo Austria (RCA), the freight division of OBB, was seen as a potential bidder for ZSSK Cargo back in 2005.

11.06.2013 Wirtschaftsblatt

Logwin selling three The international logistics service provider Logwin is selling the locations to Geis locations of Logwin Solutions Deutschland GmbH in Nuremberg, Gochsheim/Schweinfurt and Ludwigsburg to the Geis Group. The corresponding agreement was signed today, but the sale is still subject to approval by the competition authorities. The focus of the three locations is land transportation with associated logistics activities. Around 425 employees had generated sales of about EUR 105m in 2012. The Geis Group, with its headquarters in the Franconian town of Bad Neustadt, was founded in 1948 and has developed into a global full-service logistics service provider with over 4,100 employees at its 87 network and logistics sites throughout Europe. The owner-operated company Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

offers its customers a complete range of logistics services from traditional road haulage to global air and sea freight along with complex logistics solutions.

10.06.2013 Company Press Release(s)

Brunswick Rail Brunswick Rail, Russia's privately owned freight railcar operating lessor, could conduct IPO could conduct an IPO in one-and-a-half to two years, RBK Daily online within two years, reported, citing CEO Alex Genin. The IPO could also take place before, seeks to increase should there be favourable market conditions. The most interesting carriage fleet via platforms for listing are London and New York, Genin told RBK. A M&A deals source close to Brunswick Rail told RBK that the company could place no less than 20% stake. The preparation and conducting the IPO of Brunswick Rail is one of Genin’s priorities, he told RBK. Before the listing, the company wants to increase its fleet to at least 35,000-40,000 railcars, from the current 24,000, Genin confirmed. It is assumed that the company will increase the number of railcars via M&A deals. One expert cited in RBK estimated that Brunswick Rail could be currently valued at some USD 1.2bn.

10.06.2013 RBK Daily

Rakuten announces Rakuten announced on 6 June 2013 that it will turn the logistics plan to turn companies Webgistix, based in Michigan, and Alpha Direct Services, of Webgistix and France, into wholly owned subsidiaries. The value and timing of the Alpha Direct transactions were not disclosed in the release. Services into wholly 06.06.2013 Company Press Release (Translated) owned subsidiaries

CFR Marfa 51% Grup Feroviar Roman (GFR) and Transferoviar Group, in association privatisation to be with Donau Finanz, have submitted preliminary non-binding offers for a chosen from 51% stake in CFR Marfa, the Romanian Ministry of Transportation between Grup announced on Thursday (6 June). Colorado-based OmniTRAX did not Feroviar Roman submit a preliminary non-binding offer for a 51% stake in the Romanian and Transferoviar cargo railway company. The short-listed bidders will have to submit binding bids by 19 June. The ministerial privatisation commission will open the offers on 20 June. The tender's starting price for the entire stock of shares put up for sale is RON 797,058,000 (EUR 180m).

06.06.2013 Government Press Release (translated)

Chandler to Chandler owner and Managing Director Vladimir Nekhvyadovich is consider takeover willing to consider takeover offers. An offer of around EUR 7m for the offers - owner entire company would be attractive, Nekhvyadovich said in an interview with this news service. Transaction prices for this type of companies are based on market multiples of around 5x the EBIT, he added. Chandler is a German transport and logistics group. It has revenue of EUR 30m and EBIT of between EUR 1 and EUR 2m, the executive said. Nekhvyadovich noted he is currently not actively looking for buyers but would review offers. He explained that he would be ready to stay on board for a couple Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

of years after the sale, to facilitate the transition. The task of an entrepreneur is to build the business and then sell it, he pointed out, when asked for the reason to sell the company. Chandler has been already approached by financial investors looking to acquire a stake, but the offers have been declined. The group, established in 1996, has so far grown organically, and will follow the same strategy in the future, said Irina Koenig, managing director of Chandler's headquarters in Hamburg. Russia, Kazakhstan, Uzbekistan and Central Asia are the most important markets for its growth, she added. Chandler has 14 subsidiaries worldwide. Among its clients are ABB, Viessmann and Panalpina, according to the company website. Agility Logistic in Germany and SDS Logistics Services in the US (Youngstown, Ohio) are among its competitors, Nekhvyadovich said.

06.06.2013 Proprietary Intelligence

Cargo Slovakia If the Slovak government decides to go ahead with a partial privatization possible of Cargo Slovakia, the sale will be carried out through public tenders, privatization to be wrote SME. The item cited the Slovak Minister of Transport, Jan conducted via Pocatek, who stressed that the possible future sale of the company will public tender be via a transparent international tender, opened to any participant. The report noted that within two weeks Pocatek will submit to the Government a final version of his plan on how to help save the indebted state-owned railway company. According to SME information, Pocatek considers spinning off three subsidiaries from the parent company, and then sell majority stakes in the subsidiaries. Cargo Slovakia current debt is EUR 600m, a previous report noted.

06.06.2013 SME

RZD seeks Russian Railways (RZD), the state-owned railway group, has asked permission of permission of the Russian government to purchase the Greek port Russian Thessaloniki, the railway operator TrainOSE and the repair company government to Rosco, Kommersant reported. The article cited a letter sent by RZD acquire President Vladimir Yakunin to Russia’s President Vladimir Putin, dated Thessaloniki, 26 May. In the letter, Yakunin had asked for the President's decision on TrainOSE and RZD’s participation in the privatization of the Greek companies. Rosco Yakunin also noted that RZD had already received the preliminary starting prices of the three assets from the Greek ministries. TrainOSE was valued at EUR 30m, Rosco at EUR 10m and Thessaloniki at EUR 100m, the article reported. Yakunin hopes for the support of the state in financing the deal, Kommersant reported. According to Yakunin, RZD could participate in the auctions in a consortium along with the French railways and a Greek infrastructure construction company. He also proposed that another Russian company, authorized by the government, could purchase Thessaloniki.

05.06.2013 Kommersant

Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

Cargo Slovakia: The Slovak Ministry of Transport has suggested the partial privatization Slovak Transport of Slovak state-owned railway company ZSSK Cargo (Cargo Slovakia), ministry suggests wrote SME. The item cited from working documents, which the Ministry partial privatization submitted to the government for discussion. The Ministry has suggested - report to spin off three subsidiaries from the parent company and to sell majority stakes in the subsidiaries to investors. The proposal suggested that the government would keep 100% stake in the parent holding ZSSK Cargo, which will focus on transport of goods. One of the subsidiaries will be managing a fleet of wagons and the parent holding would have to lease the needed wagons from the company. The Ministry supposes to transfer up to 13,300 wagons into the subsidiary. The second subsidiary should deal with transhipments of goods, while the third will take on the repair of locomotives and wagons.

05.06.2013 SME

Ceske Drahy could Ceske Drahy (CD), the Czech, state-owned railway operator, could sell its sell CD-Telematika telco subsidiary CD-Telematika, CD chairman and chief executive Petr but needs to carve Zaluda said. Telematika is a non-core asset for CD and is available for out telco business sale, Zaluda said. While there is no active sale process, CD is "even now first – CEO ready to talk with parties who might be interested," he said. Zaluda said an actual sale would take a year to complete. CD wants to retain the infrastructure part of the subsidiary as it needs it to support its railway operations, he said. Consequently, Telematika would have to be split up into the infrastructure and the commercial telco businesses and only the latter is available, he said.

04.06.2013 Proprietary Intelligence

Interporto di Ferrovie dello Stato (FS), the state-owned Italian railway network, is Bologna attracts interested in taking a controlling stake in Interporto di Bologna, the interest of FS Italian integrated logistics centre controlled by the city and provincial councils of Bologna, Milano Finanza reported. The report cited Alessandro Ricci, the chairman of Interporto. The report noted that a 52.6% stake is up for sale, with 35.1% being sold by Bologna city council and 17.5% by the province of Bologna. The report said that FS is looking to buy both the stakes and noted that the sales process is to conclude on 26 June.

04.06.2013 Milano Finanza daily edition

Peter Hambro Peter Hambro Mining () Limited has been allowed by Russian Mining (Cyprus) antitrust regulator, the Federal Antimonopoly Service (FAS), to acquire obtains FAS consent a 99.98% stake in the charter capital of Tranzit LLC, according to a to acquire 99.98% written statement from the regulator. The core business of Tranzit, stake in Tranzit which is located in Russia’s Amur Region, is cargo handling, according to the FAS statement.

03.06.2013 Regulatory Authority Press Release (Translated)

Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

Deutsche Post DHL LGI Logistics Group, the German contract logistics company, acquired sells ITG Deutsche Post DHL's German logistics and freight forwarding subsidiary Internationale ITG Internationale Spediton, according to a LGI statement. The buy will Spediton to LGI be a way to expand LGI's service offerings and to capture new growth Logistics Group opportunities. In addition to the international locations of LGI, ITG is present in places including Amsterdam, Rotterdam, Boston, and Moscow. ITG will continue to operate as an independent company and brand. Existing locations and personnel will be unaffected by the transaction. The purchase agreement was signed on 29 May and is expected to close by the end of June. LGI will acquire 100% of ITG. Both parties have agreed to maintain confidentiality of the financial details of the transaction. ITG offers ocean and air freight as well as road transportation and logistics solutions to many industrial sectors and especially to fashion and lifestyle companies. The company has been part of DHL since 1999 and has sales of EUR 148m.

03.06.2013 Company Press Release(s)

Portuguese Portugal's government and state rail operator CP are preparing a government wants privatization plan for the Lisbon-Cascais line that would serve as a pilot to use Lisbon- for subsequent routes and other transport operators earmarked for Cascais line as pilot privatization, reported Expresso. The plan to franchise the 25 km privatization - Cascais commuter link to Portugal's capital involves significantly less report investment than the EUR 300m recommended in an AT Kearney study on the privatization of the line, sources close to the process said. The AT Kearney report on the Lisbon-Cascais privatization had also recommended a 30-year franchise period for the line but the new plan involves a much shorter franchise, the same sources said. Portugal's government is also considering reuniting the operational side of the Cascais line with the infrastructure manager, Refer, because of safety concerns. A holding company comprising CP assets on the Cascais line and Refer-controlled infrastructures could be set up as part of the line's sell-off, the same sources said. The Cascais line has been selected for the pilot privatization scheme because it is not connected to the rest of Portugal's rail network and also runs on 1.5 kV DC rather than 25kV AC on the rest of the system.

03.06.2013 Expresso

Aeroexpress: sale of The competitive forms of selling Russian Railways (RZD) - owned stake RZD's stake via in Aeroexpress are more preferable, according to Olga Dergunova, competition seen Deputy Economic Development Minister and head of the Federal more preferable Property Management Agency (Rosimushchestvo), as cited in Vedomosti. The article reported, citing Dergunova, that the method of competitive negotiations allows maximization of value, even if the winner would be the existing shareholder. Aeroexpress is the Russian company providing intermodal and local rail transport services.

03.06.2013 Vedomosti

Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

Nightexpress BDA (Bespoke Distribution Aviation) announced the acquisition of both acquired by BDA Nightexpress and N.E. Night Express, to further strengthen and extend their infrastructure and service propositions to provide clients with unrivalled, Air and Road supply chain solutions and delivery services from mainland Europe to the UK and Ireland. Since their launch, 7 years ago, BDA have worked with Nightexpress, combining their country specific expertise, to work alongside their own dedicated air-bridges and road linehaul routes to establish service supply chain gateway offerings from Germany, the Benelux and France to the UK and Ireland. Steve Court, Sales & Marketing Director - BDA said, "This acquisition is a logical progression within our business model that continues to strengthen our infrastructure and service propositions, for all our clients.”

31.05.2013 Company Press Release(s)

BDZ freight The Privatisation Agency (PA) of has extended the deadline for operations tender binding offers for the freight unit of state-owned railway entity BDZ. deadline extended According to a PA announcement, the new deadline is 25 June. The to 25 June deadline for the submission of deposits for participating in the tender is 21 June, the announcement noted. GFR, the Romanian railway group, is among the potential bidders, as earlier reported.

31.05.2013 Government Press Release (translated)

Transcontainer: NPF Blagosostoyanie, the Russian non-state pension fund affiliated with NPF the Russian Railways (RZD), owns more than 10% stake in Blagosostoyanie Transcontainer, Vedomosti reported, citing a source close to owns more than Blagosostoyanie. The shares were purchased from the market, the source 10% stake - report and two unspecified traders confirmed to Vedomosti. The shares in Transcontainer, the listed intermodal container transportation company, were actively bought at the end of 2012 and at the beginning of this year, the sources also revealed. In February 2013, Blagosostoyanie owned an 8.5% stake in Transcontainer, and it was not disclosed by the sources how much the fund paid for purchasing the other 1.5% stake, Vedomosti reported. Yesterday, 30 May, a 10% Transcontainer stake stood at USD 180m on LSE, Vedomosti reported. The spokespersons for Blagosostoyanie and Transcontainer refused to comment, Vedomosti added.

31.05.2013 Vedomosti

NefteTransService NefteTransService, the privately owned Russian freight rail operator, is not to conduct an not planning to conduct an IPO in 1H 2013, Vedomosti reported. The IPO in 1H 2013 item cited the company Co-owner Vadim Aminov for this information. Further details were not disclosed in the report. As previously reported, NefteTransService (NTS Holding) was seeking to raise USD 500m from the placement of 25% of new shares on the stock exchange.

31.05.2013 Vedomosti

Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

Interporto di Interporto di Bologna, the Italian integrated logistics centre controlled Bologna 52% stake by the city and provincial councils of Bologna, will have a 52% stake put to be privatised on the market, Milano Finanza reported. The report cited statements by the councils saying that an existing auction would be scrapped and a new one launched. A previous report said that a 35% stake had been initially put up for sale to an international partner for EUR 20m. The Interporto is valued at EUR 55m-EUR 60m, according to a previous item. In 2012, Interporto posted a turnover of EUR 26m, an EBITDA of EUR 9.4m and a net profit of EUR 453,000.

31.05.2013 Milano Finanza daily edition

Russian Railways Russian Railways, the Russian state-owned rail company, could acquire could look at ZSSK central European rail cargo operators, a source close to the company Cargo or CD Cargo - said. According to the source, Russian Railways has been approached source about potentially acquiring ZSSK Cargo in Slovakia and CD Cargo in the Czech Republic. He did not exclude such an acquisition in future but added that the company is not currently in any such talks. The source pointed out that ZSSK Cargo for example is undergoing restructuring which would have to be completed first before Russian Railways could potentially acquire it. The Czech and Slovak governments have weighed up a merger of ZSSK Cargo and CD Cargo, or a merger with Polish state- owned peer PKP Cargo, as previously reported. In a separate conversation, Ceske drahy CEO Petr Zaluda said a merger with ZSSK remains on the table, yet there are no specific moves as ZSSK is still undergoing restructuring. Zaluda said that in principal it would make sense to create a Central European rail cargo company together with its regional peers.

30.05.2013 Proprietary Intelligence

Transports Gerard The France-based transportation company Transports Gerard Lemaitre Lemaitre purchased has been purchased from its directors by Sabenis, a holding vehicle by Sabenis controlled by individual investor Sebastien Nivelles. This was announced by the M&A advisor P2C-Partners which handled the transaction. Transports Gerard Lemaitre has revenues of EUR 2.2m, the item claimed.

30.05.2013 Company Press Release (Translated)

Rail Garant and Rail Garant and Rusagrotrans, the Russian railway operators, have Rusagrotrans are to agreed to a merger, Kommersant reported, citing three market sources. merge - report The report said that the merging companies will each hold a 50% stake in the new entity. The report said that an official announcement on the merger could be made in the summer. The report also said that a stake might be sold to Privat, the Ukrainian conglomerate. The report said that two variants are under examination. The first would see Privat exchange its 70% stake in RG-Trans, the Russian railway operator it owns, for a 30% stake in Rail Garant that would subsequently be transferred to the merged entity created with Rusagrotrans. Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

Alternatively, Privat could sell its stake to Rail Garant. The report said that the second variant looked more likely The report noted that Rail Garant posted a turnover of RUB 6.8bn (USD 215m) and an EBITDA of RUB 2.9bn in 1H12. The report added that Rusagrotrans, the core asset of RTK Rail, had a turnover of RUB 35bn and an EBITDA of RUB 9.8bn in 2012.

30.05.2013 Kommersant

Russian govt The Russian government supports Russian Railways' (RZD) plans to supports transfer 50% plus two shares in Transcontainer to OTLK, Russian- transferring Belarusian-Kazakh logistic joint venture, Vedomosti reported. The Transcontainer report cited a source at the Ministry of Economic Development who said stake to OTLK - that the government would take a decision on the matter in the near report future. The maximum cost of purchasing Transcontainer’s shares during the formation of OTLK may exceed USD 900m, according to a previous report.

30.05.2013 Vedomosti

Barraqueiro eyes Barraqueiro, the private Portuguese transport operator, is eyeing bus and light opportunities among bus and light railway operators in Brazil, according railway operators in to Chairman Humberto Pedrosa. Pedrosa said the company kickstarted Brazil, chairman its internationalization with a joint venture in Brazil last year, which will says mainly be competing in public tenders for light railway services throughout the country. The company is also considering acquisitions of bus operators and would be interested in listening to proposals from advisors, he said. Rio de Janeiro, Sao Paulo, and Salvador are among the Brazilian cities it is interested in, said Pedrosa. Barraqueiro’s 50-50 joint venture is called Barraqueiro Brasil, and it is currently part of a consortium which is bidding for a tender for a light railway service in Salvador, said Pedrosa, who said it is waiting for others, such as one in Sao Paulo. The company's JV partner is Vega Transportes, a Brazilian bus operator headquartered in Fortaleza, in the state of Ceara. As part of the JV, Barraqueiro also acquired regional bus operator Vega Manaus, which operates in the capital of the state of Amazonas. Barraqueiro has also been quite acquisitive in Portugal. Pedrosa said it invested about EUR 12m last year in buying regional bus operators, including Marques (Viseu) and Maia Transportes. More recently, it notified Portuguese competition authority AdC that it had agreed to acquire majority control of light railway operator Metro Transportes do Sul (MTS). When asked about the Portuguese government's privatisation of transport operators Carris, STCP, Metro de Lisboa and Metro do Porto, Pedrosa said it is not yet clear whether this will occur via a concession or sale, though Barraqueiro is interested in all of them and will be bidding alone. The company is Iberia’s largest private bus operator and has EUR 350m in sales, according to Pedrosa.

29.05.2013 Proprietary Intelligence

Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

2XL sells minority Belgian logistics group 2XL has sold a minority stake to the Belgian stake to Creafund- venture capitalist Creafund, De Tijd reported, citing various unnamed report inside sources. The size of the stake is reportedly just less than 50%, with the Van den Poel family holding on to the majority of the shares. 2XL was founded in 1999 and is headed by Jean Van den Poel, who will retain in his position. The company has been looking for a partner since 2012. Financial details of the transaction were not given but Creafund recently invested EUR 7m in 2XL Invest, the holding company behind 2XL, De Tijd reported. 2XL focuses on the transport of food, paper and tyres to Scandinavia and the UK. Its clientele includes Danone, Tesco and ASDA. The company has a turnover of EUR 65m, De Tijd added.

29.05.2013 De Tijd

RZD's consultants Russian Railways (RZD)'s consultants have prepared a scheme that will prepare scheme to allow RZD to transfer 50% plus two shares in Transcontainer to OTLK, transfer without announcing an offer to Transcontainer’s minority shareholders. Transcontainer Kommersant reported this information citing a source familiar with the stake to OTLK documents of RZD, Russia’s state-owned railway operator. It has been without announcing decided that the above stake in the intermodal container transportation offer to minority company, Transcontainer, will be transferred to OTLK, the Russian- shareholders - Belarusian-Kazakh logistic joint venture. According to RZD documents, report which quoted the law firm Freshfields Bruckhaus Deringer, an offer to minority shareholders does not have to be announced if shares are transferred to affiliate companies. Therefore, OTLK will initially be formed via two joint ventures: Russian-Kazakh and Russian-Belarusian, Kommersant reported. The article added that instead of announcing an offer, RZD has decided to increase the dividend of Transcontainer’s minority shareholders. In the period from 2014 until 2020, the total dividend payments will stand at USD 882m, almost half of which will be paid to Transcontainer’s minority shareholders. The formation of OTLK could be announced on 20 June, Kommersant learned from RZD press office. Kommersant also reported that Transcontainer’s minority shareholders, mainly Summa Group, were against the OTLK project as they wanted the controlling stake in Transcontainer to be privatized. The item added that Summa is a shareholder in Transcontainer via FESCO. The maximum cost of purchasing Transcontainer’s shares during the formation of OTLK may exceed USD 900m, Kommersant added.

29.05.2013 Kommersant

Norbert Norbert Dentressangle today announced the acquisition of Fiege’s Dentressangle Italian and Iberian operations in an all-cash financed deal. The move has acquires Fiege's further strengthened its market leadership in the European logistics logistics operations market and the company will continue to offer its customers high-level in Italy, Spain and quality services, innovative and customized solutions for a wide range of Portugal industry sectors (FMCG, retail, healthcare & pharmaceuticals). Through this operation, Norbert Dentressangle will acquire Fiege Borruso and FLI spa (Pharma) Italian operations in a deal complementary in terms of Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

network, skills, expertise and customer portfolio. With a workforce of 510 people, these Italian operations generated 2012 revenues of circa EUR 95m and ran at profit thanks to 11 sites representing 264,000 m² of warehousing area. They serve a wide range of industries from FMCG (food – non food – beverages) to retail (wholesalers, retailers, mass markets, supermarkets) including pharmaceuticals and are well known for their customized solutions for food, beverages, household and body care products as well as pet food. According to the agreement, Fiege will retain some logistics and air freight contracts operated in Italy and a part of its European approach with its German customers. The transaction will create Italy’s fourth largest player on the logistics market, twice Norbert Dentressangle’s current size in Italy. Further to the operation, the new Norbert Dentressangle’s Italian logistics operations will account for a total turnover of EUR 220m, operating 35 sites, offering 630,000 m² of warehousing area and employing 1,200 people. Through the operation, Norbert Dentressangle will acquire Fiege Iberia and Fiege Iberia Operador Spanish and Portuguese operations, bringing complementary network, customer portfolio, together with highly skilled expertise. With a workforce of 342 people, these Iberian operations recorded 2012 revenues of circa EUR 34m thanks to 5 multi- customer platforms (69,000 m²), 4 specialist dedicated warehouses (67,000m²), 20 cross-docking platforms (73,500 m²), providing customers with contract logistics services for the transport of ambient, temperature controlled and chilled goods, services for dangerous goods. Further to the transaction, the new Norbert Dentressangle’s Iberian operations will generate combined turnover of EUR 450m, offering 458,000 m² of ambient warehousing areas, a fleet of 1.800 vehicles and employing 1,700 people.

27.05.2013 Company Press Release(s)

Ceynak Lojistik Ceynak Lojistik, the Turkish logistics company, is planning to launch an plans IPO IPO, according to a report in Sabah. The report quoted Ali Avci, chairperson of Cey Group, which controls Ceynak, as saying that the company is planning to transfer its experience in the Port of Samsun to other port and railway expansions, and is preparing for an IPO. The company had taken over the port of Samsun with a USD 125m bid in 2008 and invested TRY 40m (USD 21.7m) in the port, the report added, noting that the group may have an IPO in 2014.

27.05.2013 Sabah

Globaltrans not in Globaltrans Investment PLC (together with its consolidated subsidiaries any acquisition the “Company”, “Globaltrans” or the “Group”, LSE ticker: GLTR) noted discussions with the recent press speculation regarding a potential merger with NefteTransService, NefteTransService. The Company emphasises that its strategy remains denies press to seek out growth both organically and by selective acquisitions with the speculation aim of creating value for the Group and all its shareholders. To this end, the Company consistently evaluates opportunities in the Russian rail Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

freight market however it is currently not engaged in any acquisition discussions with NefteTransService. Vedomosti picked up this development and reported the information that NefteTransService (NTS) and Globaltrans are discussing the possibility of a merger had come in a newswire report, citing sources in railway sector. Vedomosti also reported that according to another Russian newswire, citing a source, talks were in regard to potential merger of the gondola cars operators.

27.05.2013 Company Press Release

Transports Lamory Transports Lamory, a transportation company located in Harly, France, put into has been put into receivership by the commercial court of Saint-Quentin, receivership, in Fusacq reported. The news report credited Francois Marquis, a talks with bidders manager, with stating that the company is in talks with potential bidders. A partnership or a sale are considered, the report noted. Transports Lamory generated a turnover of EUR 22m in 2011, with 186 staff.

23.05.2013 Fusacq

Rave brings in new The French investment company Siparex said its has led an investment investors round in the transportation and logistic services provider Rave through its Siparex Entrepreneurs I fund. Siparex has been an investor in the group since 2004 via its Siparex Croissance and Siparex Developpement funds. The announcement added that new investors Carvest, Societe Generale Capital Partenaires (SGCP) and Pactinvest were brought in while Naxicap exited the capital. The operation also saw the management team, led by Frederic Charbon, Christophe Debarbat and Alain Dondainas, increase its majority stake and the entry of new managers as shareholders.

23.05.2013 Company Press Release (Translated)

Damm in final talks Damm, the listed Spanish brewer, is in final discussions with Renfe to to acquire Renfe's acquire the state-owned railway company’s 40% in Alfil Logistics, 40% stake in Alfil Expansion reported citing sources privy to the process. Alfil Logistics Logistics - report was created in 2000 as a 60/40 joint venture of Damm and Renfe. Damm now seeks to attain the 100% of Alfil, a carrier of goods by rail and road that last year reported a turnover of EUR 73m, according to the report. The process is in its final stages but an agreement has not yet been reached, the report's sources noted.

22.05.2013 Expansion

FCC appoints Fomento de Construcciones y Contratas [FCC SM], the Spanish Sabadell to sell construction and services company, has appointed Banco de Sabadell to logistics division - sell its logistics subsidiary FCC Logistica, a person with knowledge of the sources situation and an industry banker said. Teasers have just been sent out to prospective bidders, but no fixed agenda has yet been communicated for first-round bids, the banker said. FCC Logistica reported EUR 61.4m in Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

revenues in 1Q13. The division reported EUR 253m of revenues in 2012, down from EUR 270.8m in 2011. International logistics groups are the most likely bidders, the banker believed, adding that due to the typical low margins in the space and the need for scale, private equity bidders are unlikely to bid for the asset

21.05.2013 Proprietary Intelligence

PKP Intercity to be PKP Intercity, Poland's largest long-distance passenger train operator, ready for will be ready for privatisation by 2017, Rzeczpospolita reported. The privatisation in article cited PKP Intercity Vice President Pawel Hordynski. A final 2017 decision on whether the company will be sold and the size of the stake will be made by the owner, Hordynski noted. PKP Intercity is a part of the state-owned railway group PKP. According to Hordynski, PKP Intercity will start generating profits by 2014, Rzeczpospolita reported. This year the co mpany is expected to post losses of about PLN 140m (USD 43.12m), Hordynski noted. Investments of PKP Intercity in purchase and modernisation of wagons, trains and locomotives stand at PLN 4bn, said the report.

20.05.2013 Rzeczpospolita

UVZ-Logistic' A new strategy of UVZ-Logistic, the railway operator co-owned by strategy allows for Uralvagonzavod (UVZ), does not rule out a possibility of gaining a new gaining a new large investor, Kommersant reported. The article cited UVZ-Logistic investor, sale of 25% General director Dmitry Yeremeev, who confirmed that a sale of 25% possible stake to a financial investor is possible. Currently, talks are being held with several potential buyers, he added. A source familiar with the situation told Kommersant that UVZ may sell a part of its shares. UVZ, a Russian state-owned machine building company, currently owns 50% stake in UVZ-Logistic. Kommersant also reported that according to UVZ-Logistic’s strategy, the company wants to increase the number of its wagons from the current 12,000 to 30,000 – 65,000 by 2017. This will allow the company achieving revenue of RUB 30.2bn (USD 962.6m) and EBITDA of RUB 13.1bn in 2019. The company wants to buy not only new, but also old railway stock, and it does not rule out M&A deals, Kommersant reported, citing the strategy. According to the strategy, UVZ-Logistic will borrow to finance the buy of wagons, and it will need guarantee from UVZ for bank loans. Another possible option is direct loans, or investments by its shareholders, the item added

17.05.2013 Kommersant

CFR Marfa tender to The Romanian Transportation Ministry will resume the tender for a 51% be resumed on 23 stake in CFR Marfa by asking potential investors to submit documents May; bidder should by 23 May, according to a press release issued by the ministry today. The have EUR 20m tender's starting price for the entire stock of shares put up for sale is turnover RON 797,058,000 (EUR 180m). A short list of bidders will be announced on 23 May, and on 5 June the bidders should submit their preliminary, non-binding offers. The envelope bid tender will be held on Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

20 June, when the ministry will announce the winner. The ministry has amended tender criteria by requiring the potential bidder or consortium of bidders to prove annual turnover of EUR 20m in the last three years; EUR 30m was stipulated as the turnover in the official tender announcement made on 30 April.

16.05.2013 Government Press Release (edited)

Deutsche Bahn Deutsche Bahn (DB) has acquired the Central Eastern European acquires Veolia's business of Veolia, Der Tagesspiegel reported. The report cited DB Central Eastern transport Chief Ulrich Homburg. Financial details were not revealed European business though the paper said the deal is thought to be worth EUR 250m. Veolia for undisclosed Transdev Central Europe operates regional bus transport in six Central price Eastern European countries (Croatia, Poland, , Slovakia, Slovenia and the Czech Republic). The business has 6,400 employees and operates 3,400 busses.

16.05.2013 Der Tagesspiegel

Transports Transports Gringore, a French family-owned transportation company, Gringore taken over has been taken over by its domestic peers Transports Malherbe and Stef- by Transports TFE, Ouest France reported. The daily, which cited confirmation of the Malherbe and Stef- news from labour union representative Jean-Marc Lambert, said the TFE takeover plan provides for the retention of 129 out of 231 employees. Transports Gringore was put into receivership in January by the commercial court of Caen, the report noted. The company, which specializes in refrigerated transport, recorded revenues of EUR 30.7m in 2011.

15.05.2013 Ouest France

Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, June 2013

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