Freight booking and payment platform Freightos Ltd is looking to go public on Nasdaq after the company entered into a definitive merger agreement with special purpose acquisition company (SPAC) Gesher I Acquisition Corp. The capital raised from the transaction will be invested to further scale the business, driving transaction value and improving margins. The implied pro forma enterprise value of the merger is estimated at approximately $435 million, leaving 78 percent stake to existing … [Read more...] about Freightos eyes Nasdaq listing with ‘special’ merger
mergers and acquisitions
Lufthansa joins MSC in bid for Italian airline
Mediterranean Shipping Co. plans to own a controlling stake in new Italian flag carrier ITA Airways in a deal valued somewhere around US$1.4 billion, which would include German airline Lufthansa. Lufthansa would act as an industrial partner and possibly consider up to 40 percent equity involvement, but some analysts think it is unlikely to make an immediate investment. The airline, exiting restrictions on merger activity that came with its 9 billion-euro government bailout, has paid back … [Read more...] about Lufthansa joins MSC in bid for Italian airline
Bolloré gets offer for its African logistics unit from MSC
French transport and logistics firm Bolloré Group has received an offer for 100 percent of its African logistics unit from major container shipping line Mediterranean Shipping Company (MSC Group). The deal, estimated at €5.7 billion or US$6.4 billion, includes all of the forwarder’s transport and logistics activities in Africa. Aside from ocean, air, road, and rail transport, warehousing and terminal operations, Bolloré Africa Logistics manages the entire administrative and customs procedures … [Read more...] about Bolloré gets offer for its African logistics unit from MSC
cargo-partner expands in Australia with local acquisition
Vienna-based info-logistics provider cargo-partner group is expanding its footprint in the land down under, after the forwarder acquired local customs broker and forwarder Associated Customs & Forwarding or ACF. The acquisition, officially completed on 1 August, will see cargo-partner gain two new locations in Sydney and Brisbane and grown its team in Australia to 35. The company said it has had success in its operations in Melbourne, which it started in July 2019. Also read: Hellmann … [Read more...] about cargo-partner expands in Australia with local acquisition
FedEx pumps $100m into Indian logistics startup Delhivery
FedEx is looking to expands its footprint in India as it agreed to invest US$100 million in logistics startup Delhivery. The two companies have entered into a long-term commercial agreement where FedEx will focus on export and import services to and from India, whilst Delhivery will sell the former’s products and services and provide pick-up and delivery services across its pan-India network. As part of the deal, the leading integrator will transfer certain assets pertaining to its … [Read more...] about FedEx pumps $100m into Indian logistics startup Delhivery
Kuehne+Nagel to sell Apex minor stake to Partners Group
Kuehne+Nagel announced earlier this week that it will sell 24.9 percent of its stake in Chinese forwarder Apex International Corporation to private equity firm Partners Group. Partners Group will work alongside fellow Swiss company K+N to implement a ‘transformational value creation plan’ for Apex together with its management team, as part of the board. The investment management firms says key initiatives include establishing new freight forwarding routes, identifying new growth verticals … [Read more...] about Kuehne+Nagel to sell Apex minor stake to Partners Group
