Itella and VR Group sign business purchase agreement
Itella Logistics and VR Group have signed a business purchase agreement relating to the purchase of VR Transpoint’s groupage logistics business in Finland and also the entire share capital of PT Logistiikka, as part of groupage logistic.
The net sale of the groupage logistics included in the acquisition totals approximately EUR 130 million and the number of personnel is over 800. The personnel comprise mainly transportation, terminal and warehouse personnel and they will be transferred to Itella as existing employees. The aim is to actualise the acquisition on 1 October 2012. The acquisition also requires approval by the competition authorities. The contract price will not be made public.
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