YRC
Worldwide has signed an agreement to acquire 65 per cent of Shanghai Jiayu
Logistics, for between USD29.5m and USD43m, depending on Jiayu’s final 2007
performance. YRC hopes to purchase the remaining 35 per cent in 2010, for around
USD32m.
Shanghai
Jiayu Logistics is one of China’s
largest providers of LTL ground transportation services, with more than 30,000
customers. Jiayu’s management will remain with the company.
Completion of the acquisition is subject to Chinese
regulatory approvals and restructuring of certain of Jiayu's operations.
However, the two companies hope to close the deal in the second quarter of
2008.
News & Interviews 
(0 vote)
