Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, October 2015 www.pwc.de Deal News Transportation & Logistics What's up in your 15. October 2015 market – a focus Research Center on deals activity Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, October 2015 APZ Direct acquired Swiss Post, the Swiss postal service, has acquired parcel delivery by Swiss Post company APZ Direct, a German press release stated. APZ will be integrated into Swiss Post's Direct Mail Company (DMC) unit. 230 employees will be retained, while a further 50 employees on hourly rates would not be kept on. Financial terms were not disclosed. 09.10.2015 Company Press Release (Translated) SIRVA Worldwide SIRVA Worldwide Inc., a leading global relocation and moving services acquires Swiss provider, announced the expansion of its European network through the Access and MS acquisition of Swiss Access, a relocation service provider focused on Move Management serving the needs of international companies and their employees, and MS Move Management, a residential moving specialist. Both companies are based in the Lausanne/Geneva region of Switzerland. Financial terms of the acquisition were not disclosed. Swiss Access and MS Move Management provide a full range of relocation and moving services to multinational organizations, corporate Human Resources departments and employees in Switzerland and around the world. Their services include relocation management, visa & immigration administration, destination services, temporary housing, home finding, settling in services, tenancy management, household goods move management and intercultural & language training. 08.10.2015 Company Press Release(s) Versand und Versand und Weiterverarbeitung Hagen, a German provider of business Weiterverarbeitung support services, has filed for insolvency, according to a German- Hagen files for language press release. The court appointed Christian Kaufmann of insolvency PLUTA Rechtsanwalts as administrator. Versand und Weiterverarbeitung Hagen has 260 employees and is part of the Stark Group, Bremen. 02.10.2015 Company Press Release (Translated) Russian Railways to Russian Railways (RDZ) has decided to withdraw from the privatisation withdraw from tenders of three Greek companies, TRAINOSE, Rosco and Thessaloniki privatisation Port Authority (OLTH), Euro2day reported, citing RDZ. The company’s tenders of BoD took this decision late on Wednesday, 14 October, and will seek the TRAINOSE, Rosco approval of the Russian government, the Greek-language report said. and Thessaloniki RDZ’s change of strategy is probably attributed to its new CEO, Oleg Port Authority Belozerov, the report added. (translated) 15.10.2015 euro2day Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, October 2015 Cleveron aims to Cleveron, a private Estonian automated parcel delivery solutions raise around EUR company, will be looking to raise around EUR 30m in three to six 30m – co-owner months in order to implement its technology of a parcel pick-up service in Europe, said co-owner Peep Kuld. The company would look for a financial investor that could acquire around 10% for this sum, he said, stressing that all these numbers are preliminary. The owners will decide upon mandating advisers when its business plan and investment prospect are ready, Kuld added. The raised capital would be used to produce, install and start operating the network of 1.000-1.200 newly developed automated parcel terminals called Packrobot, the co-owner said. Packrobot is a one-size-fits-all solution built to deal with so-called “last mile” delivery issues, such as failed deliveries, temperature sensitive packages, security and other, according to the website of the company. The EUR 4.2m turnover Cleveron has been working on this technology, targeted for e-commerce companies mostly, during the last five years, Kuld said. Once the investment is received, the turnover of the company should jump to EUR 100m to EUR 200m in two to thre years, whereas EBITDA would stand at EUR 20m to EUR 60m, the co-owner said. The estimation is based on existing pre-agreements and “other available information,” he said without specifying. 15.10.2015 Proprietary Intelligence Mense files for Mense Verpackungen Export Logistik, a German logistics company, has insolvency filed for insolvency, according to EUWID. The news item said that the (translated) court appointed Thorsten Klepper of Klepper und Partner as administrator. Citing managing partner Peter Mense the article said that the step was necessary after the cancellation of a major order. The company has 80 employees. 13.10.2015 EUWID Orey Financial Orey Antunes, the listed Portuguese shipping and transport group, is Holdings 50% stake considering the sale of a 50% stake in Orey Financial Holdings (OFH) could be sold by which could also undergo an IPO, reported Diario Economico. Orey is Orey Antunes; IPO mulling the sale of the stake in OFH, the business paper said, citing a also possible - report from ARC Rating, as part of a plan to restructure its medium to report (translated) long term debts. OFH's opening to new investors could also involve an IPO, sources close to the process told Diario Economico. Orey is close to buying a strategic stake in Inversis, the Spanish bank, the item said. 12.10.2015 Diario Economico Indian and Spanish Indian and Spanish groups are interested in bidding for the PHP 170bn groups interested in (USD 3.8bn) North-South Commuter Railway, the Manila Bulletin bidding for USD reported. The report cited Cosette Canilao, the executive director of the 3.8bn North-South Public-Private Partnership (PPP) Center, who said that several unnamed Commuter Railway companies have requested that the government push back the 15 October deadline for the railway project's submission of pre- Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, October 2015 qualification documents. Other interested bidders include an Indian conglomerate and an unnamed Spanish company. Additionally, Aboitz Equity Ventures [PSE:AEV] is said to be interested in bidding, according to the article. So far, only Metro Pacific Investments [PSE:MPI] and San Miguel Corp [PSE:SMC], the two listed diversified Philippine companies, have purchased bid documents for the auction. A report in the Philippine Daily Inquirer added that Ayala Corp [PSE:AC] is still interested in the deal, citing the group's managing director, John Francia. North-South Commuter Railway is the Philippine project that seeks to link Calamba in Laguna with Malolos in Bulacan. 11.10.2015 Manila Bulletin DSV agrees to The DSV Group ("DSV") today signed an agreement to acquire US based acquire UTi UTi Worldwide Inc. (”UTi”), according to a stock exchange Worldwide at an EV announcement. UTi is a global, supply chain services and logistics of around USD company with revenue of USD 3.9bn and 21,000 employees in 58 1.35bn countries. The combined company will be one of the world's strongest transport and logistics networks. DSV today entered an agreement to acquire UTi at the price of USD 7.10 in cash per ordinary share. The total transaction implies an enterprise value of approximately USD 1.35bn. The per-share consideration represents a premium to the ordinary shareholders of approximately 50% compared to the closing price of UTi on 8 October 2015, and a premium of approximately 34% compared to the 30-day volume-weighted average closing price. The Boards of Directors of DSV and UTi have unanimously approved the transaction. Kurt K. Larsen, Chairman of the Board of DSV, comments: "It is a great pleasure for me to announce the first step towards the combination of UTi and DSV. We complement each other perfectly, both in terms of business activities and geography. Together, we will be even stronger and able to capitalise on business synergies as well as a greater global reach to the benefit of shareholders, customers and employees. We look forward to joining forces and welcoming our new colleagues from UTi to DSV." Roger MacFarlane, Chairman of the Board of UTi, comments: "We are operating in an industry where increasingly scale is critical. Joining forces with DSV delivers substantially greater client value and many future opportunities for our people while it is financially very attractive for our shareholders. As a result, the Board of Directors of UTi has unanimously approved the agreement with DSV and strongly recommends that our shareholders accept the offer." Holders of ordinary shares of UTi will receive cash consideration of USD 7.10 per ordinary share upon closing of the acquisition by way of merger. Following the merger, UTi will become an indirect wholly-owned subsidiary of DSV. The total transaction implies an enterprise value of approximately USD 1.35bn. 09.10.2015 Stock Exchange Announcement(s) Deal News – Transportation & Logistics What's up in your market – a focus on deals activity, October 2015 Log-In to decide on Log-In Logistica Intermodal [LOGN3:BZ], a Brazilian-listed shipping PE entry or spin-off firm, will decide in the coming weeks the format of its corporate – report restructuring process, Valor Economico reported. Citing sources familiar (translated) with the matter, the business daily said the company considers either the entry of a foreign private equity fund or a spin-off for its port and shipping assets. According to the Portuguese-language newspaper, Terminal de Vila Velha (TVV), a port specialized in containers located in Espirito Santo state, has attracted the interest of several foreign companies, including Denmark’s Maersk. Log-In has annual sales of about BRL 1bn (USD 259.6m). 08.10.2015 Valor Economico Deutsche Bahn The state-owned German transport group Deutsche Bahn has confirmed hires Lazard to that it has appointed the investment bank Lazard to examine options for advise on options its DB Arriva and DB Schenker subsidiaries, The Times reported.
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