Panalpina confirms Agility talks on potential strategic opportunities regarding logistics businesses, continues to review DSV offer
15 FEB 2019
The Board of Directors of Panalpina [SWX:PWTN] today issued a statement confirming media reports that it is in discussions with Agility Group on potential strategic opportunities with regard to their respective logistics businesses. The discussions between the two companies are at a preliminary stage.
According to its fiduciary duties, the Board of Directors of Panalpina continues to review the approach by DSV [CPH:DSV] in conjunction with its professional advisers.
Further announcements will be made as appropriate.
On 14 February Bloomberg carried an article citing sources familiar with the matter that said Panalpina is is in talks with Agility, a Kuwait logistics group, regarding a logistics business deal. The deal is backed by Panalpina 46% shareholder Ernst Goehner Foundation which previously rejected the DSV offer, the report stated.