Denmark's DFDS ends deal to buy transport network from Turkey's Ekol (updated)
01/11/2024 13:38
(Adds quote, detail on deal from paragraph 2)
COPENHAGEN, Nov 1 (Reuters) - Danish shipping and
logistics firm DFDS DFDS.CO said on Friday it had terminated a
share purchase agreement with Ekol Logistics and that a deal
struck in April to buy the Turkish group's international
transport network would no longer take place.
"As certain contractual conditions have not been satisfied
by the agreed deadline, DFDS has terminated the share purchase
agreement and the transaction will consequently not take place,"
DFDS said in a statement.
Ekol Logistics' network connects Turkey and Europe, and
the acquisition was supposed to add road transport to its
Mediterranean ferry network, DFDS said in April.
(Reporting by Louise Breusch Rasmussen, editing by Terje
Solsvik)
((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))