Linde launches sale of logistics unit Gist - sources
07/01/2016 15:31
By Arno Schuetze
FRANKFURT, Jan 7 (Reuters) - Germany's Linde LING.DE is
launching the sale of its temperature-controlled logistics unit
Gist, as it streamlines its operations to focus on its core
industrial gases operations, two persons familiar with the
matter said.
Linde has mandated Morgan Stanley MS.N to find a buyer for
the unit with 570 million euros in 2014 sales and is planning to
send out first information packages to prospective bidders by
the end of the month, they added.
Linde and Morgan Stanley declined to comment.
Linde had earmarked Gist for sale in March last year, when
Chief Executive Wolfgang Buechele had said that the unit, which
delivers cooled food and beverages mainly in the United Kingdom,
was no longer considered 'core business'. urn:newsml:reuters.com:*:nL6N0WI1RE
The company is expected to shop Gist to logistics players
such as Deutsche Post DPWGn.DE , UPS UPS.N , Kuehne+Nagel
KNIN.VX , Logwin TGHG.DE , Imperial IPLJ.J as well as
private equity groups.
Tentative bids for Gist, whose key customers include British
retailer Marks and Spencer MKS.L , are due at the end of
February, the sources said.
(additional reporting by Alexander Hübner; editing by Harro ten
Wolde)
((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters
Messaging: arno.schuetze.reuters.com@reuters.net))
Keywords: LINDE GIST/SALE