Release Date: 18 December 2007
Release ID: 1362
Norbert Dentressangle Group today (14th December 2008) announced that it has completed the acquisition of the UK-based transport and logistics solutions provider, Christian Salvesen Plc. A strategic acquisition.
This strategic operation confirms the growth ambitions of Norbert Dentressangle Group and forms the basis for the creation of a European leader in transport and logistics services with 29,200 employees located in 390 sites in 14 European countries and EUR 2.9 billion in combined revenue in 2006.1
The combination of Norbert Dentressangle Group and Christian Salvesen creates an enlarged group with the scale and resources to deliver a comprehensive range of tailor-made solutions for customers.
- Road haulage accounts for EUR 1.6 billion or 57% of 2006 combined revenue1, thus creating a pan-European leader in road transport and Europeís largest fleet operator with 8,000 tractors and 10,000 trailers.
- Logistics services accounts for EUR 1.3 billion or 43% of 2006 combined revenue1 and around 4 million sq.m of warehouse space.
- Christian Salvesenís strong presence in the UK, Benelux and the Iberian Peninsula extends Norbert Dentressangle Groupís established positions in France, Italy, Germany and Eastern Europe.
- Christian Salvesen provides Norbert Dentressangle Group with additional expertise and major leadership positions in Refrigerated and Frozen Logistics and in Distribution.
A friendly takeover Ė Merger clearance received
The transaction, which was effected by way of a Scheme of Arrangement, received the support of the Board and reference shareholders of Christian Salvesen, including members of the Salvesen family. The acquisition was cleared by the European Commission under the EU Merger Regulation on 6 December 2007.
Acquisition to be consolidated from 14 December 2007
Christian Salvesen will be consolidated in Norbert Dentressangle Groupís accounts as of 14 December 2007. Christian Salvesen Plc shares will be suspended from trading on the London Stock Exchange as of 17 December 2007.
- Full-year revenue report to be published on 31 January 2008
- Presentation of the Groupís financial results for the 2007 financial year on 26 March 2008.Detailed information on Christian Salvesen and its integration within Norbert Dentressangle Group will be provided in the presentation.
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