HES Beheer grabs 19% of French ATIC Services.
30 December 2011 - Dutch port logistics services provider HES Beheer NV (AMS:HES) announced the acquisition of a 19% stake in French logistics company ATIC Services SA.
The vendor was CDF Energie SA and the sale was completed on 29 December. HES Beheer volunteered no information on price but said in its statement it would use bank loans to pay for the purchase. The company added that it expected its profits to improve immediately as a result of the acquisition.
The deal is in keeping with HES Beheera[euro](tm)s plan for further expansion of its dry bulk business. It will also broaden the companya[euro](tm)s geographical reach and the scope of its operations through ATICa[euro](tm)s inland navigation activities, the buyer said.
ATIC is primarily engaged in operating terminals for marine trade and inland navigation. Its workforce of 600-plus is spread across 11 countries and the company made about EUR280m (USD363m) in 2010 revenues. Its leading shareholder is Luxembourg-headquartered steel-making giant ArcelorMittal (AMS:MT) with a stake of 76%.Country: , FranceSector: Road Transport/Freight TransportTarget: ATIC Services SABuyer: HES Beheer NVVendor: CDF Energie SAType: StakebuildingFinancing: DebtStatus: Closed