Allcargo makes big purchase
The Belgian affiliate of India-based Allcargo has inked an agreement with NBG Logistik Beteiligungs- und Beratungsgesellschaft to acquire 75% of the shares of Fair Trade Schiffahrt, Handel und Logistik.
The price of the transaction is approximately EUR 12 million, subject to the finalisation of accounts as on the closing date. The share purchase agreement became effective on 23 November 2022 and the shareholders agreement will be executed over the turn of the year.
The transaction was given the green light by the relevant authorities. Fair Trade Schiffahrt, Handel und Logistik is a full container load (FCL) and less-than-container load (LCL) consolidation services provider, operating in Germany with offices in Bremen and Hamburg. The company generated a turnover of approximately EUR 44 million in 2021. (sh)