The final remaining hurdle in the drawn-out sale of Belgian-based ABX Logistics by BelgianRailways to British financial investor 3i has fallen.
The European Commission announced on Wednesday that it has granted clearance under the EU MergerRegulation to the acquisition of sole control of ABX LOGISTICS Worldwide SA/NV and its subsidiaries(‘ABX’, Belgium) by 3i Group plc (‘3i’, UK). The operation was examined under the simplified mergerreview procedure.
Following an MoU signed last year, 3i is now expected to complete the acquisition of ABXLogistics Worldwide for an estimated €80 million in the near future. The logistics group, which ismostly active in the road transport, and air and sea freight sectors, has been successfullydownsized, restructured and brought back into profit over the last couple of years.
Belgian media recently reported that its Belgian parcels business may be retained by BelgianRailways and sold to a separate company instead of being sold as part of the overall disposal.There are few synergies between the domestic parcels business and the international freightactivities.
