Arab Today, arab today us logistics group xpo buying frances dentressangle
Last Updated : GMT 11:50:01
Arab Today, arab today
Arab Today, arab today

US logistics group XPO buying France's Dentressangle

Arab Today, arab today

Arab Today, arab today US logistics group XPO buying France's Dentressangle

Norbert Dentressangle
New York - AFP

US transporter XPO Logistics announced a deal Tuesday to buy France's much larger Norbert Dentressangle in a deal worth 3.24 billion euros ($3.56 billion) including acquired debt.

XPO said the takeover will move it into the top-10 rankings of global logistics firms, boosting total annual revenues to $8.5 billion by the time the merger is completed.

The deal will bring together XPO's 10,000 employees focused on North America with 42,350 staff staffing Norbert Dentressangle's business in 24 countries, mainly in Europe.

Last year, XPO reported revenues of $2.4 billion, and Norbert Dentressangle 5.1 billion euros ($5.6 billion).

XPO said the deal is worth 2.17 billion euros for Norbert Dentressangle shareholders. XPO will buy the 67 percent shareholding of the Norbert Dentressangle family and make a general tender for all other shares.

The per-share price is 217.50 euros, excluding a 1.80 euro per share dividend to be paid ahead of the close of the merger deal.

The price was 36.7 percent above the company's closing price Tuesday on the Paris Bourse.

XPO said Norbert Dentressangle chairman and chief executive Herve Montjotin will serve as CEO of the merged company's European business and president of the parent company.

XPO said it would not cut back company staff in France, which represents two-thirds of the business, "for a period of at least 18 months from closing."

The European headquarters will also remain in Lyon, it assured.

"The acquisition of Norbert Dentressangle is a major leap forward, but we're still in the early innings of our long-term growth plan," said Bradley Jacobs, chairman and chief executive officer of XPO.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us logistics group xpo buying frances dentressangle Arab Today, arab today us logistics group xpo buying frances dentressangle

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us logistics group xpo buying frances dentressangle Arab Today, arab today us logistics group xpo buying frances dentressangle

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday