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Wincanton sells up in Europe

[ August 15, 2011   //   ]

Wincanton is to sell its remaining mainland Europe operations to Rhenus for about €44m. It comprises the German intermodal and contract logistic activities at 38 locations, and the French contract logistics and transport services at 30 locations. Around 3,000 employees will transfer to Rhenus. The German company will alsotake on a pension deficit of €30m.

The transaction is subject to the approval of Wincanton’s shareholders and anti-trust clearance and approvals. Wincanton will be consulting with relevant employee representative bodies.

Earlier, Wincanton sold its German Road activities and businesses in Central and Eastern Europe to Raben group and logistics operations in the Netherlands to JCL Transport und Logistik.