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TRANSPORTATION NEWS WORLDWIDE * Mergers & Acquisitions
* USA - Strategic Buyers - Domestic Deals
· 17 June - Vail Resorts, Inc. announced the acquisition of Colorado Mountain Express for $40.5 million. Based in Edwards, CO, Colorado Mountain Express provides professional ground transportation services.
· 23 June - Republic Services, Inc. announced the acquisition of Allied Waste Industries, Inc. in an all stock transaction valued at $6.1 billion, combining the 2nd and 3rd largest waste management companies in the U.S. Allied had TTM Revenue of $6.1 billion and TTM EBITDA of $1.7 billion.
* Worldwide Deals
* Finland · 16 June - PT Logistiikka Oy has acquired Cargo Therm Finland Oy, a provider of logistics services based in Vantaa, Finland. Terms were not disclosed.
* USA · 18 June - United Parcel Service, Inc. announced the acquisition of the 40.0% of UPS-Korea Express Co. Ltd. it does not own. Korea Express is an international parcel delivery service company based in Seoul, South Korea. Terms were not disclosed.
* Germany · 19 June - Hamburger Hafen und Logistik Aktiengesellschaft ("HHLA") announced the acquisition of joint venture partner Rhenus AG & Co. KG's 50.0% interest in HHLA Rhenus Logistics GmbH, HHLA Rhenus Logistics Altenwerder GmbH & Co. KG and Logistikzentrum Altenwerder. The HHLA-Rhenus companies provide storage, transport and contract logistics services in Hamburg, Germany. Terms were not disclosed.
* Norway · 20 June - Teekay Corporation has acquired the remaining 30.1% of Teekay Petrojarl ASA in a transaction valued at $259.4 million. Based in Trondheim, Norway, Teekay Petrojarl operates the largest FPSO vessel fleet in the North Sea. Teekay Petrojarl had TTM Revenue of $292.8 million and TTM EBITDA of $72.2 million.
* Financial Buyers
* USA · 18 June - Fenway Partners Inc. has acquired Preferred Freezer Services, LLC, a Newark, NJ based provider of refrigerated warehouse storage services throughout the U.S. Preferred had TTM Revenue of $42.7 million.
* Corrections
· In the 6/10/08 edition of Deal Update, we misreported the 6/02 acquisition of a 28% interest in DSV Air & Sea Pvt. Ltd. by Augean plc. In fact, DSV Air & Sea Holding A/S acquired the remaining 28% of DSV Air & Sea Pvt. Ltd... We apologize for the confusion.
posted by Unknown @ 10:08 AM
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