3i leads the race for pounds 210m UK logistics group
PRIVATE equity firm 3i is poised to acquire niche logistics company Marken from Deutsche Post for about pounds 210m. Sources said 3i is now in exclusive talks with Deutsche Post advisers UBS to buy Marken, part of Exel, after submitting a higher bid than rival contenders.
The other private equity firms thought to have been looking at the company include PPM, Phoenix Private Equity and Bridgepoint.
Deutsche Post put Marken on the block last month, though it is not clear why it has decided sell. Analysts think that, after acquiring Exel last year, Deutsche might have some overlaps.
3i and UBS declined to comment and Deutsche Post could not be reached for comment.
