Panalpina actively looking for takeover candidates (translated)
15 JUL 2017
Panalpina (SWX:PWTN), the Swiss transport and logistics group, is keen to make acquisitions, Basler Zeitung reported. At the end of a wide-ranging interview Panalpina Chief Stefan Karlen told the Swiss daily he is targeting global growth in fresh products, noting he recently acquired companies in Kenya and Denmark. Asked how much capital is available, Karlen said he has CHF 400m cash resources as of the end of the first quarter and could easily take bank credit at good rates in the current environment.
Karlen said he is actively seeking candidates and noted there are many companies that are not for sale and need to be convinced.