HHLA to buy a 51% stake in Austrian intermodal specialist Roland Spedition
Hamburg terminal and intermodal operator HHLA is set to expand its central European rail network, ...
So the base case we outlined on Thursday last week only marginally materialised, as DSV Panalpina is indeed targeting DSV Panalpina (DSV PAN) via new stock buybacks…
… but also, more importantly, the Danish forwarder agreed to take over the logistics business of Kuwait-based Agility, aka Agility Global Integrated Logistics (AGY GIL), for an enterprise value of $4.2bn (equity value: $4.1bn).
Transaction multiples: “0.94x EV/LTM sales and 23.2x EV/LTM adj. ebit.”
Fully valued on paper – although at this stage synergies aren’t disclosed. A sensible move ...
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Alex Lennane
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