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GEODIS has unveiled plans to acquire its main freight forwarding partner, Rohde & Liesenfeld (R&L) for EUR77 million (US$109.55 million).
Rohde & Liesenfeld is a German international air and sea freight forwarding group. Its 2007 net revenue is expected to be EUR270 million attributable to both freight forwarding and industrial projects. R&L operates mainly in Germany (34 per cent of revenue), Latin America (17 per cent), South Africa (16 per cent) and Australia/New Zealand (14 per cent) and has 710 employees.
The acquisition of R&L is expected to make Geodis Wilson a major player in the German freight forwarding market, as well as enable it to serve South Africa where R&L is well established, and substantially deepen its presence in Latin America.
In addition, the group will benefit from R&L's expertise in handling industrial projects, especially in the oil and gas industry, a company statement said.
The close working relationships of the Geodis and R&L teams, which have been working together for many years, create a solid foundation for successful integration, it added.
Subject to the approval of the competition authorities, the transaction will be completed in the beginning of 2008.
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