R&L sold for R770m

EUROPEAN LOGISTICS
operator Geodis is acquiring
Röhde & Liesenfeld (R&L),
its main freight forwarding
partner, for €77 million
(R770m).
Subject to the approval of
the competition authorities,
the transaction will be
completed at the beginning
of 2008.
The acquisition will
provide Geodis with a
foothold in several new
markets, notably South Africa
where R&L is well established.
R&L operates mainly in
Germany (34% of revenue),
Latin America (17%), South
Africa (16%) and Australia/
New Zealand (14%) and has
710 employees.
Geodis sees the
acquisition strengthening its
presence not only in Africa
but also in Latin America
and providing expertise in
handling industrial projects,
especially in the oil and gas
industry, where R&L is a
strong player.
FTW was awaiting
comment from R&L SA
regarding the implications
of the deal for the local
operation when this issue
went to press on Monday
morning.