Bruce Barnard, Special Correspondent | Apr 02, 2012 10:37AM EDT
DSV said Italian trust busters reduced a fine related to the Danish trucking and logistics company’s acquisition of ABX Logistics by $5.2 million to $26.4 million.
DSV appealed a $31.6 million fine imposed last June on its Italian unit Saima Avandero, which it acquired with the $1.05 billion takeover of Belgium-based ABX Logistics in 2008.
The Copenhagen-based group said it is weighing a second appeal in Italy’s administrative court.
DSV said it will claim indemnification for the fine from the former owners of ABX Logistics “in accordance with agreements with them.”
DSV is also mulling an appeal against a $508,000 fine imposed by the European Union last week on DSV Air & Sea SAS, a French subsidiary acquired in its takeover of ABX Logistics.
The company, which said the fine will have no impact on its financial position, will seek reimbursement from ABX’s former owners.
Contact Bruce Barnard at brucebarnard47@hotmail.com.
