Forward Air – damn it! Sell it? Haha, yeah, right...
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After days of mounting speculation, French car-maker Peugeot-Citroen (PSA) today confirmed that it had entered into talks with Russian Railways to sell 75% of its logistics subsidiary Gefco for what is said to be a reduced price of €800 million. This would follow a €100m special dividend payment from Gefco to PSA.
Last year Gefco’s revenues grew by 10% to reach €3.4 billion and it returned an operating profit of €200 million. Plans for its sale were revealed when Peugeot issued ...
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