Business, Forwarding, Freight News, Logistics

Panalpina and Agility hold merger talks – updated

[ February 15, 2019   //   ]

Swiss-based forwarding giant Panalpina is in talks over a possible merger with Kuwait’s Agility, Bloomberg reports. It appears that is a move by major shareholder Ernst Goehner Foundation to rebuff an earlier $4 billion offer for the company by DSV.
Panalpina is reported to have said that the talks with Agility are still at a preliminary stage and that it was still reviewing DSV’s offer.
Under the latest plan, the Ernst Goehner Foundation would retain a shareholding in the merged entity.
DSV has since announced a new offer of 180 Swiss francs per Panalpina share,saying that it was aware that the forwarder was pursuing a private combination with Agility.
On 18 February, Agility announced that a 2018 net profit of KD 81.1 million, up 18.4% from 2017.