XPO Logistics completes Norbert Dentressangle share acquisition
XPO Logistics, Inc. has confirmed the purchase of a 67% interest in Norbert Dentressangle SA at a price of €217.50 per share, in accordance with the recently announced agreement between the two companies.
The transaction, with a total value of €3.24 billion, ensures that XPO Logistics is now a top ten global provider of transportation and logistics services with lane density covering approximately 90% of the Eurozone’s GDP-producing regions.
The also means that more than 52,000 employees, who are experienced at helping customers with the efficient management of their supply chains on both a local and international scale, now come under the XPO Logistics flag.
Equally, the iconic and highly visable red trucks, will now display #WEAREXPO and begin transporting customers’ freight on European roads. XPO Logistics trucks will also debut at the Grand Départ of the Tour de France in July, continuing a long-standing partnership as the official logistics partner for this renowned sporting event.
Hervé Montjotin, Europe CEO and President of XPO Logistics and Chairman of the Management Board of Norbert Dentressangle SA said: “We are very pleased to confirm the closing of the transaction announced in April.
“Thanks to the speedy completion of this acquisition, we can begin our integration as part of XPO Logistics without delay and fully commit to an ambitious business development plan, supported by a broader service offering and an expanded capacity for innovation.”
Posted on: June 10th 2015