Mergers & Acquisitions News

 

CMA CGM Caps Logistics Push with $5 Billion Bollore Deal

Feb 29, 2024

France's CMA CGM has completed a $5 billion takeover of Bollore Logistics, its biggest-ever acquisition, and said it had funds for more deals as it seeks to counter volatility in container shipping.The acquisition of the logistics division of French conglomerate Bollore, announced last year, closed on Thursday at a final price of 4.85 billion euros ($5.25 billion) after debt and cash adjustments.The…

GAC to Acquire Quadrant Pacific’s Ship Agency Business

Jun 14, 2024

GAC Group announced it has entered into an agreement with Quadrant Pacific to acquire its agency business, formerly its network partner in New Zealand.Since its establishment in 2008, GAC New Zealand has operated in partnership with Quadrant Pacific…

Inchcape Shipping Services Acquires Grieg Logistics

Jun 03, 2024

Port agency and marine services company Inchcape Shipping Services on Monday announced it has acquired Grieg Logistics AS from the Grieg Group, strengthening its presence in the NordicsUnder the new ownership, Grieg Logistics will continue to…

DP World Acquires Savan Logistics

May 06, 2024

DP World on Monday announced it has completed its acquisition of Savan Logistics, which operates the Savannakhet dry port in the Savannakhet Special Economic Zone (SEZ) in Laos, the first SEZ in the country. Savan Logistics has been operating the dry port since 2016…

DFDS to Buy International Network from Ekol

Apr 09, 2024

Danish shipping and logistics firm DFDS said on Tuesday it has agreed to buy the international transport network of Turkey's Ekol Logistics for 1.9 billion crowns ($277 million) and lifted its sales growth forecast for the year.The network connects…

FMD Acquires AMMCON

Mar 26, 2024

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has acquired AMMCON Corp., a Jacksonville- based fittings and assembled components manufacturer. The defense contractor’s acquisition continues its…

Iridium Acquires Satelles

Mar 04, 2024

Iridium Communications has entered into an agreement to acquire Satelles, Inc., a leader in secure satellite-based time and location services that complement and protect GPS and other GNSS-reliant systems. The service, named Satellite Time and Location (STL)…

EU Clears CMA CGM's Acquisition of Bollore Logistics, Subject to Conditions

Feb 23, 2024

The EU Commission on Friday said it had cleared the acquisition of the logistics operations of conglomerate Bollore by shipping group CMA CGM, subject to a number of conditions proposed by the companies.The commission, which oversees competition policy in the 27-nation European Union…

American Queen Voyages Up for Sale as Hornblower Gets New Majority Owner

Feb 21, 2024

A global alternative investment firm Strategic Value Partners has entered into agreement with Hornblower Group to acquire the majority ownership of the company in exchange for significant equity investment. As part of the agreement, Crestview Partners retained minority ownership in the business…

Maersk to Spin Off Svitzer

Feb 08, 2024

Denmark's A.P. Moller-Maersk said on Thursday it will spin off its towage and marine services activities and plans to list the new company on the Nasdaq Copenhagen stock exchange.Maersk has sought to streamline its business in recent years,…

ABB Acquires Weather Routing Business

Jan 24, 2024

ABB entered into an agreement to acquire the shipping business of DTN Europe BV and DTN Philippines Inc. (hereinafter DTN Shipping), expanding the company’s offering in maritime software. The acquisition of the DTN Shipping portfolio covers vessel routing software…

Mullen to Acquire ContainerWorld

Jan 18, 2024

Mullen Group announced it has entered into a letter of intent (LOI) to acquire Richmond, British Columbia based ContainerWorld Forwarding Services and its operating subsidiaries. The LOI contemplates standard due diligence and the execution of a purchase and sale agreement…

“This is not a decision against THE Alliance,” says Hapag-Lloyd Chief

Jan 17, 2024

Hapag-Lloyd and Maersk signed an agreement for a new long-term operational collaboration called Gemini Cooperation, aiming to start in February 2025.Simultaneous with the announcement, Hapag-Lloyd informed its partners in THE Alliance that it would end its participation in January 2025…

ISS Takes Majority Stake in Leth Suez Transit

Jan 02, 2024

Inchcape Shipping Services has taken a major share of Leth Suez Transit Ltd AS (LETH). Under the new ownership structure, Otto Jervell, the CEO of LETH, will continue to helm the company as a part-owner.LETH, with its heritage starting in 1924 as a bunker supplier in Egypt…

Wilhelmsen, MPC Capital Acquire Zeaborn

Dec 21, 2023

Wilhelmsen Ship Management and MPC Capital jointly acquire 100 % of Zeaborn Ship ManagementWilhelmsen Ship Management (Wilhelmsen) and MPC Capital have agreed to acquire 100% of the company Zeaborn Ship Management, which the acquiring companis…

Logistics News

Fire Suspends Sugar Loading at Tiplam Terminal in Brazil's Santos Port

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Houston Container Volumes Up 21% in May

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Singapore to Seek Compensation from Shipowner for Oil Spill

Singapore to Seek Compensation from Shipowner for Oil Spill

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