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TRANSPORTS NEWS WORLDWIDE
* UAE - P&O to be re-launched on stock exchange
UK - Transport Intelligence Ltd. -10 July 2006: -- Press reports in London are suggesting that P&O will be re-launched on the stock exchange less than a year after state-owned Dubai Ports World (DPW) bought the company for £3.8billion... It is suggested that DPW will use the name P&O to make an IPO on both the London Stock Exchange and the embryonic Dubai International Financial Centre. The new company will include Dubai’s original assets – notably the Jebel Ali Port complex in Dubai- as well as P&O Ports global network of ports... What might be of greater relevance to DPW is the number of Arab investors who appear to find the logistics sector an attractive destination for the investment flows from their oil revenues. A good example of this is the Kuwait based PWC which continues to expand through acquisition, this week purchasing the Swiss Freight forwarder Cronat Holdings...
* USA - Ozburn-Hessey Logistics makes US acquisitions
USA - Transport Intelligence Ltd. -10 July 2006: -- Ozburn-Hessey Logistics one of the US’ largest third party logistics providers, has acquired Barthco International, Inc., of Philadelphia and Turbo Logistics of Gainesville, GA... According to Ozburn-Hessey Logistics CEO Scott McWilliams the two acquisitions will see the company's 2006 combined operating revenues exceed $600 million...
* China - DFDS buys out Asia Pacific partner
Hong Kong,China - Transport Intelligence Ltd. -10 July 2006: -- In a further acquisition in the Asia Pacific region, DFDS Transport (Hong Kong) Ltd. has announced that it has acquired the activities of CDS-Frans Maas (Asia) Ltd... The activities and staff of CDS-Frans Maas (Asia) Ltd. will be integrated into the current organization of DFDS Transport in Hong Kong, Guangzhou (Southern China), Shanghai and Vietnam. DFDS Transport Air and Sea is operating in 11 countries in Asia and employs a total of 790 employees in that region...
* UK - Private equity company buys DX Services
London,UK -Transport Intelligence Ltd. -10 July 2006: -- The Boards of UK express operator DX Services and Mail Acquisitions Limited (MAL) have announced the terms of a recommended cash offer by MAL to acquire the whole of the share capital of DX Services... MAL is a newly incorporated company established for the purposes of making the offer, and is ultimately controlled by private equity group Candover Partners. The offer will be 415 pence in cash for each DX Share and values the existing issued share capital of DX Services at £348.7 million... The Offer represents a premium of 25.6 per cent. to the Closing Price of 330.5 pence per DX Share on 3 July 2006...
* India - Allcargo buys ECU Line
Mumbai,India -Transport Intelligence Ltd. -10 July 2006: -- Allcargo Global Logistics Ltd., India's leading Non Vessel Operating Common Carrier (NVOCC) has, in a notice to investors, announced that it has acquired 100 per cent stake in the Belgium firm, ECU Hold NV, the holding company of the ECU Line Group... A global multinational and a world leader in consolidation and NVOCC operations, ECU Hold NV is headquartered in Antwerp, Belgium. It serves 5,000 destinations worldwide through its network of offices around the world... Allcargo had early this month floated an Initial Public Offering (IPO) for the purpose of , among other things, undetaking acquistions...
posted by Unknown @ 12:21 PM
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