Securicor PLC said it plans to return around 75 mln stg to shareholders following the sale of its stake in a distribution joint venture to Deutsche Post, the other venture partner.
The company is selling its 50 pct holding in the venture for 247 mln eur in cash. Including Securicor’s 37 mln eur share of the venture’s net debt, the value of the disposal is 284 mln eur.
Read MoreAirborne, Inc. and DHL announced today that they have entered into a definitive merger agreement that will create a stronger third competitor in the U.S. express delivery market and bring the benefits of intensified competition and enhanced service to millions of small- and medium-sized businesses that purchase expedited door-to-door delivery of small packages and documents. Under the terms of the agreement, DHL will acquire Airborne’s ground operations for USD21.25 per share in cash, or a total equity value of approximately USD1.05 billion. Upon conclusion of the acquisition, Airborne’s air operations will be separated from its ground operations and will become an independent public company, called ABX Air, Inc. (“ABX Air”). ABX Air will be wholly owned by Airborne’s current shareholders, who will each receive one share of ABX Air for every Airborne share they hold.
Read MoreDeutsche Post said on Tuesday it was confident of winning back hundreds of millions of euros it was forced to repay the government by an EU ruling on illegal state aid but said a decision would not come until 2005.
Read MoreHermes, a subsidiary of Otto, the German retail and mail order group, is aiming to provide competition for Deutsche Post, the country’s postal service operator. In the autumn, the company is set to open its 8,500 ‘PaketShops’ to private customers, having previously been used for Otto’s mail order business
Read MoreWeaker profits for Frans Maas
Read MoreNot all the EU members states have welcomed cross-border rail liberalisation, reports Chris Lewis
Saturday 15 March marked the date on which European rail freight took its first tentative steps towards the free market. The EC’s first railway package came into effect to, in theory, open up an estimated 85% of the network – for cross-border services only – to competition from state rail operators and private sector firms.
A second railway package, currently being debated by the European Council, will open up the entire network to full cabotage – domestic as well as international. This is widely expected to be given a 2008 deadline, rather than 2006 as originally hoped for, as the price for securing the co-operation of France, Belgium and Luxembourg.
Read MoreSunrise Medical, a manufacturer of wheelchairs, hoists and other aids for people with mobility problems, has extended its UK logistics contract with Geodis for a further two years.
Read MoreExel has been appointed by Sia to manage the UK logistics for its giftware and home accessories from its multi-user centre in Stanton, Suffolk. Sia’s 15% year-on-year growth promptedthe company to outsource the handling of up to six containerloads a week.
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