Gefco: RZD grasps at 75 per cent of the shares
Strategic partnership with JSC Russian Railways (RZD) shall boost the development of Gefco, the specialist for industrial logistics
PSA Peugeot Citroën announces that it has entered into exclusive negotiations with JSC Russian Railways (RZD) to strengthen the market position of its logistics subsidiary Gefco. PSA Peugeot Citroën would sell a 75% interest in Gefco for EUR 800 million, after the payment by Gefco to PSA Peugeot Citroën of EUR 100 million in a special dividend. A shareholders agreement would ensure the protection of both parties interests as well as the sustained quality of the logistics services provided by Gefco to the PSA Peugeot Citroën Group. The proposed transaction will be subject to antitrust clearance in the concerned countries.
Gefco, thanks to this transaction, would further enhance its geographic expansion strategy in China, India and Latin America, but also accelerate its growth in Eastern and Central Europe, particularly in Russia. RZD and Gefco would offer unrivalled logistics services between Europe and Asia.
The proposed partnership would also allow Gefco to diversify its business area and contribute to the growth of its turnover, thereby creating a global leader in diversified industrial supply chain logistics. „This project would ensure strong growth for the employees of Gefco in the coming years. Continuity on the management level could be ensured as well, as Luc Nadal would keep his managing function. The company’s headquarters would still be in France“, a press release informs.
JSC Russian Railways (RZD) is the operator of the Russian railway network. With 1.2 million employees it ranks among Russia’s major enterprises. The group has a widely ranged portfolio of business segments. Its core activities are passenger and cargo transport as well as container transport through its subsidiary Transcontainer (including container logistics). The group is fully owned by the Russian Federation and achieved turnover of about EUR 36.1 billion and net result of EUR 4.5 billion in the financial year ending on 31 December 2011.
Quelle: LogEastics
Portal: www.logistik-express.com