DAILY NEWS Nov 23, 2005 7:00 AM - 0 comments

Deutsche Bahn acquires Bax Global

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By: posted by Julia Kuzeljevich
Deutsche Bahn AG (DB) has recently signed a purchase contract in New York to acquire a 100 per cent shareholding in US logistics firm, Bax Global Inc from The Brink's Company for US$1.1 billion in cash.

According to Deutsche Bahn the takeover is part of a plan to expand its position as an international logistics services provider in key growth markets in the Asia Pacific region, particularly China as well as the US, reports schednet.com.

The deal is expected to be finalised by year-end pending regulatory approval from the European Union and the German Ministry of Transport.

In the first three quarters of 2005, Bax based in Irvine, California, generated revenues of $2.04 billion, up from $1.75 billion during the same period the previous year.

Worldwide, Bax maintains more than 500 offices in over 130 countries, employing over 12,000 staff. DB Logistics, the transportation and logistics division of Deutsche Bahn, will increase its business volume as a result of the acquisition of Bax, the company says, expanding its position in both air and sea freight.

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