DGAP-News: VTG Aktiengesellschaft: VTG's takeover of Nacco conditionally approved by the Federal Cartel Office
DGAP-News: VTG Aktiengesellschaft / Key word(s): Miscellaneous
VTG's takeover of Nacco conditionally approved by the Federal Cartel Office
On July 1, 2017, VTG Aktiengesellschaft ("VTG AG") announced plans to acquire all shares in CIT Rail Holdings (Europe) SAS. CIT Rail Holdings (Europe) SAS owns the Nacco Group, a railcar leasing company with pan-European activities and a fleet of around 14,000 freight cars. The conditional approval granted by Germany's Federal Cartel Office aligns with VTG's offer to sell about 30 percent of the Nacco business it will acquire to third parties in advance of the deal. The Executive Board of VTG AG now expects its acquisition of the remaining roughly 70 percent (around 10,000 freight cars) to be completed in the second half of 2018.
VTG Aktiengesellschaft is one of Europe's leading railcar leasing and rail logistics companies, with a fleet of more than 80,000 railcars. VTG is a full-service provider, supplying tank cars, standard freight cars, intermodal cars and sliding-wall railcars. Beyond its leasing activities, the Group delivers a comprehensive portfolio of multimodal logistics service focused primarily on rail freight and global tank container transportation.
With the combination of its three interlinked divisions Railcar, Rail Logistics and Tank Container Logistics, VTG offers its customers a high-performance platform for international transport of their freight. The Group has many years of experience and specific expertise, in particular in the transport of liquid and sensitive goods. Its customers include numerous well-known companies from almost every industrial sector, for example the chemical, petroleum, automotive, paper and agricultural industries.
In the financial year 2016, VTG generated revenue of EUR 987 million and operating profit (EBITDA) of EUR 345 million. Via its subsidiaries and affiliates the company, which has its head office in Hamburg, is mainly present in Europe, North America, Russia and Asia. As at 31 December 2016, VTG had 1,443 employees worldwide in consolidated companies. VTG AG is listed on the official Prime Standard market of the Frankfurt Stock Exchange and also on the SDAX (WKN: VTG999).
Investor relations contact:
For further information please see www.vtg.com
|Phone:||040 2354 1351|
|Fax:||040 2354 1350|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|