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The transfer is still subject to the performance of due-diligence by the buyer and the successful negotiation of the sale and purchase agreement. CMB is convinced that, as part of Groep H. Essers, Hessenatie Logistics will be able to continue its development as a provider of high-quality and specialised logistical services. CMB expects to close the transaction by the end of the first quarter. In accordance with IFRS, the impact of the transaction will be included in the 2010 consolidated accounts. Linklaters and BNP Paribas Fortis are acting as advisers to CMB in this transaction. CMB, Compagnie Maritime Belge, is a maritime group with registered offices in Antwerp. Through Bocimar, CMB is represented in the transport of dry bulk cargo. With its participating interest in ASL Aviation CMB is active in the airline industry. With 26 branches across 13 countries, 1,050 trucks, a total storage area of 700,000 square metres and 3.000 employees, the family owned enterprise Groep H. Essers has grown since its foundation in 1928 into one of the main logistical providers in Europe for industries such as chemicals, pharmaceuticals / healthcare and high value products. CMB, Compagnie Maritime Belge, press release |
CMB sells Hessenatie Logistics to Groep H. Essers