GEFCO buys Mercurio SPA

GEFCO announces the signature of an agreement to acquire 70 % of Gruppo MERCURIO SpA
GEFCO, a 100% affiliate of PSA Peugeot Citroën, signed an agreement with the Italian fund Venice, controlled by Palladio Finanziaria, and RP3 fund to acquire their 70% of the Gruppo MERCURIO, one of the leading player in transportation and distribution of vehicles in Italy and abroad.

MERCURIO has a significant worldwide presence, notably in fast growing areas in Mercosur, India, South-East Asia and Central Europe and has generated revenues of €127 million in 2010.
With this acquisition, GEFCO, European leader in transportation and logistics, will accelerate its development in outbound automotive logistic as well as the diversification of its clients portfolio and the extension of its international footprint. In addition, substantial synergies with MERCURIO will enable GEFCO to strengthen its European network's competitivity.
The acquisition of MERCURIO is subject to, among others, the approval of the relevant antitrust authorities.

Mercurio has a presence in India through a 50:50 joint venture with Pallia Transports and function under Mercurio Pallia Logisitcs. MP is a name to reckon with in car carrier business, under the stewardship of Vipul Nanda, Chairman and Managing Director.

For a detailed story on Mercurio Pallia Logistics, check out the December 2010 Cover Story in Logistics Times at: www.logisticstimes.net/magazine.php (Registration required to browse/access the emgazine)

Backgrounder

The GEFCO group
GEFCO sets the standard in logistics for the industry. Through its six key areas of expertise – Logistics, Gefbox system, Overseas, Overland, Vehicle Distribution and Customs and VAT representation – GEFCO is able to deliver global, innovative solutions in both inbound and outbound logistics for a full range of industrial requirements. Present in 150 countries, GEFCO ranks among Europe's top ten logistics groups with a turnover of 3.4 billion in 2010. The Group has 400 business locations worldwide, a workforce of 9,400 employees and is developing activities in Central Asia, Central and Eastern Europe, in Middle East, Eastern Asia and South America.
Website: www.gefco.net