US logistics group in billion dollar European acquisition

US-based XPO Logistics will acquire French Norbert Dentressangle and will, by its own estimate, become one of the ten largest logistics companies in the world.

Photo: Deutsche Bahn

XPO Logistics, based in the US, will acquire French Norbert Dentressangle in a transaction worth USD 3.5 billion and which will, according to the company, make XPO Logistics one of the ten largest logistics groups in the world.

The acquisition will triple XPO's operating profit, EBITDA, to around USD 545 million and increase the revenue to an estimated USD 8.5 billion, thus reaching the strategic goals set by the group for 2017 two years ahead of schedule, says the company in a statement.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Container reliability hit new low at the end of 2021

Schedule reliability in the container industry set a new negative record in December 2021 with one route in particular hit hard with an on-time arrival rate of only 10 percent, show figures from Sea-Intelligence. Problems in supply chains are still ”a huge burden,” says Hapag-Lloyd.

DNB Markets says oil price could hit USD 100 a barrel

An optimistic scenario could see the oil price go above USD 100 per barrel, DNB Markets forecasts in its latest oil market report. It won’t take much for it to happen, oil analyst Helge André Martinsen says to ShippingWatch.

Cadeler secures two new deals

Shipping line Cadeler, which operates wind installation ships, lands two new deals, one with Vestas, the other with an unnamed customer.

Further reading

Related articles

Latest news

See all jobs