XPO acquires majority interest in Norbert Dentressangle

Norbert Dentressangle is now part of XPO Logistics, a top ten global provider of supply chain solutions.

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Lyon, France, and Greenwich, CT., USA – 8 June 2015 - XPO Logistics, Inc. has completed the purchase of a 67% interest in Norbert Dentressangle SA, at a price of 217.50 euros per share, in accordance with the previously announced agreement between the two companies. XPO Logistics is now a top ten global provider of transportation and logistics services. 

 

More than 52,000 employees are now flying the XPO Logistics flag, adept at helping customers with the efficient management of their supply chains on both a local and international scale.

 

Iconic red trucks, now proudly announcing #WEAREXPO, will begin transporting customers’ freight on European roads. XPO Logistics trucks will also debut at the Grand Départ of the Tour de France this July, continuing a long-standing partnership as the official logistics partner for this renowned sporting event.

 

Hervé Montjotin, EuropeCEO and President of XPO Logistics and Chairman of the Management Board of Norbert Dentressangle SA, is delighted: “We are very pleased to confirm the closing of the transaction announced in April. Thanks to the speedy completion of this acquisition, we can begin our integration as part of XPO Logistics without delay and fully commit to an ambitious business development plan, supported by a broader service offering and an expanded capacity for innovation”.

 

Facts about XPO Logistics:

  • Annual revenue of approximately US$9.2 billion
  • More than 52,000 employees
  • More than 850 locations in 27 countries 
  • The European leader in outsourced e-fulfilment
  • The global contract logistics market leader with 12 million m² of warehouse space
  • The largest fleet in Europe, with 7,700 owned trucks, 3,200 trucks contracted through independent owner operators, and access to an additional 12,000 independent carriers
  • One of the largest transportation and logistics companies serving North America, with leading positions in freight brokerage, contract logistics, intermodal, last mile logistics for heavy goods and expedite, and with a growing position in global forwarding
  • A continued company-wide focus on world-class customer service grounded in ethical conduct and an ongoing commitment to compliance with all applicable laws

For further information: www.norbert-dentressangle.com and www.xpo.com

 

About XPO Logistics, Inc.

XPO Logistics, Inc. (NYSE: XPO) is a top ten global provider of cutting-edge supply chain solutions to the most successful companies in the world. The company provides high-value-added services for surface transportation, including freight brokerage, intermodal, last mile and expedite; highly engineered contract logistics; warehousing and distribution; and global forwarding by ground, air and sea. XPO serves more than 30,000 customers with a highly integrated network of over 52,350 employees and 863 locations in 27 countries. www.xpo.com

 

XPO’s corporate headquarters is in Greenwich, Conn., USA, and its European headquarters is in Lyon, France. On June 8, 2015, XPO acquired 67% of the outstanding shares of Norbert Dentressangle SA. The remaining stock is traded as GND on Euronext Paris / Euronext London – Isin FR0000052870. www.norbert-dentressangle.com

 

Tender Offer

In accordance with French law, XPO will launch, in the coming days, an all-cash simplified tender offer to acquire the remaining outstanding shares of Norbert Dentressangle SA at a price of 217.50 euros per share. The draft documentation relating to the public offer will include the terms and conditions of the offer and will be subject to review by the Autorité des marchés financiers (AMF). The offer will only be opened after the AMF has granted its clearance. The tender offer would be followed by a squeeze out of minority shareholders if the conditions are met at the end of the offer. Ledouble SAS has been appointed as independent expert pursuant to art. 261-1 I and II of the AMF Regulations, and has concluded that the offer price is fair, in view of the squeeze out.

 

Forward Looking Statements

This press release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and within the meaning of the AMF regulation.  These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.  These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements.  Factors that might cause or contribute to a material difference include, but are not limited to, those discussed in XPO’s filings with the Securities and Exchange Commission.  Forward-looking statements set forth in this press release speak only as of the date hereof and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events.


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