The €600 million acquisition of freight logistics group Geodis by French rail operator SNCF hasbeen completed with the delisting of Geodis shares from the Euronext Paris stock exchange. SNCF
aims to create Europe’s fourth-largest transport and logistics group which will also be among theexpress market leaders in France.SNCF, which already held 42.37% of Geodis’ share capital and 45.79% of voting rights prior toits offer, announced in early April it would offer €135 per share to buy full control of Geodis.The offer, which ran through June and part of July, was supported by the Geodis board andoverwhelmingly accepted by Geodis shareholders.
After increasing its holding to 98.40% of Geodis capital, SNCF then implemented a squeeze-outto buy the remaining shares on August 8 and Geodis shares were delisted from the Euronext Parisstock exchange on that day.
SNCF will combine Geodis, with 2007 revenues of €4.8 billion, its rail freight division andseveral smaller transport subsidiaries, into a new group with 2008 revenues of some €8 billion andabout 50,000 employees. The new company will include Geodis Calberson, one of the leading expressand parcels operators in France.
