EU Clears Geodis to Acquire Giraud

EU Clears Geodis to Acquire Giraud

European Union regulators cleared Geodis, the French transport and logistics provider, to take sole control of Giraud, a leading French forwarder active across Europe.

The EU said the takeover would not significantly impede competition in the European transport and logistics markets.

Geodis, a subsidiary of France's state-owned railway, SNCF, is acquiring Giraud's steel business and its activities in Central and Eastern Europe, southern and northern Europe and in France.

The takeover will enable Geodis to expand its truckload and less-than-truckload operations in other European countries, especially Spain.

Separately, Geodis announced the sale of 1,083 grain wagons and its 75 percent stake in TMF, a rail freight forwarding company owned by its Ermewa subsidiary, to VTG, a Hamburg-based wagon rental and rail logistics firm.

EU competition regulators approved Geodis' acquisition of Ermewa in January on condition that it sold the Geneva-based rail wagon and container rental firm's grain freight forwarding operations.

-- Contact Bruce Barnard at brucebarnard47@hotmail.com.