The Deutsche Bahn AG group has signed a contract in New York to acquire 100 percent of the shares of Bax Global Inc., a company based in Irvine, California. The selling party was the American company The Brink’s Company.
The transaction will allow Deutsche Bahn to significantly expand its market position as a provider of international logistics services in key growth markets in the Asia-Pacific region, as well as in China and the USA.
– Bax fits our strategy perfectly and is an ideal complement to Schenker – a company operating within our group – said DB CEO Hartmut Mehdorn.
As a result of the BAX acquisition, DB Logistics will increase its turnover to nearly 15 billion EUR. At the same time, the entire company will strengthen its international reach.
– Combined with Schenker, Bax will allow us to take a big step forward. This means we will increase both the Group’s profits and the company’s stability in Germany and Europe – commented Dr. Norbert Bensel, member of the Deutsche Bahn AG Management Board responsible for DB Logistics, on the transaction.
The transaction will be finalized within a few weeks.