A PYMNTS Company

Germany/Austria: Regulators pave way for 2014 launch of rail operator

By  |  December 4, 2013

Authorities within Germany and Austria have now cleared the proposed merger between rail logistics firms VTG and Kuehne & Nagel in a deal that will launch a new rail operating company on January 1.

The new company, to be named VTG Rail Logistics, will combine VTG’s current operations in the EU, Russia and North America with Kuehne & Nagel’s rail logistics operations focused in the EU and Asia.

According to the merging parties, the new conglomerate will expand industrial, agricultural and petrochemical services across these regions.

The deal, however, will not include Kuehne & Nagel’s intermodal rail logistics business.

Financial details of the merger were not reported.

Full Content: Rail Journal

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.