VTG Aktiengesellschaft, a European railcar and logistics services provider, and Kuehne + Nagel, a large logistics firm, are planning to merge parts of their rail logistics activities.
Both parties entered a letter of intent this week.
“This merger represents an expansion of the long-term partnership that has existed between VTG and Kuehne + Nagel within the scope of their joint company Transpetrol for more than 20 years,” the companies said in a statement. “The new joint venture would expand the present rail logistics activities of the partners, continuing the growth strategy of VTG Rail Logistics and enabling Kuehne + Nagel to offer its customers an extended product range.
“The goal is to strengthen the market position in the European rail logistics business. In addition, the transaction allows an expansion of the logistics solutions offered in the industrial, agricultural and petrochemical goods product segments. From a geographical point of view, the joint coverage area ranges all over Europe into Russia and Turkey,” they added.
The deal is subject to the approval of the corporate boards and antitrust authorities. The decision is expected for the second half of 2013.
VTG, K+N seek rail logistics services merger
