EUROPE: Wagon leasing and rail transport group VTG and logistics business Kuehne + Nagel announced the signing of a letter of intent to merge their rail logistics activities on April 25.
The companies have had a partnership through joint company Transpetrol for more than 20 years. VTG would hold a majority stake in the merged business, which it said would give the companies a stronger position in the
European rail logistics market, including in Russia and Turkey, by allowing an expansion of their industrial, agricultural and petrochemical activities.
The merger is subject to regulatory approval, with a decision expected in the second half of 2013.