DFDS agrees to buy Ekol Logistics' international transport network (updated)
09/04/2024 12:17
(Adds detail on acquisition)
STOCKHOLM, April 9 (Reuters) -
Danish shipping and logistics group DFDS DFDS.CO said on
Tuesday it had agreed to buy the international transport network
of Turkey's Ekol Logistics with a transaction enterprise value
of 1.9 billion crowns ($276.9 million).
DFDS said in a statement the network, which connects Turkey
and Europe, had a revenue of 3.5 billion crowns last year.
"The Turkey-Europe transport market is on average expected
to grow by around 14% annually until 2028," DFDS said.
"The acquisition thereby expands DFDS’ network to a
high-growth region supported by nearshoring of supply chains
closer to Europe," the company added.
The deal is conditional upon EU merger control approval.
($1 = 6.8620 Danish crowns)
(Reporting by Anna Ringstrom, editing by Louise Rasmussen)
((anna.ringstrom@thomsonreuters.com;))