MAERSK LOGISTICS TO ACQUIRE DSL

MAERSK LOGISTICS TO ACQUIRE DSL

   Maersk Logistics has signed a letter of intent to acquire certain assets and activities of Distribution Services Ltd., including related operations of DSL's transload and warehouse operations, ocean transport intermediary activities and consolidation business.

   The deal is subject to negotiation and execution of a definitive agreement between the parties, as well as satisfaction of applicable regulatory requirements and government approval. Terms were not disclosed.

   Under the proposal, DSL would retain its name and logo for ocean intermediary activities. All assets not acquired in the deal would become the property of the shareholders under non-compete restrictions.

   Maersk Logistics, a unit of Danish A.P. Moller Group provides warehousing and distribution solutions, sea and air-freight transport, and integrated supply chain management.

   DSL is a supply chain management company specializing in consolidation and transport of freight through the distribution process.