Ceva Logistics has secured the purchase of US-based Eagle Global Logistics (EGL) for $2bn following a protracted sale process.
EGL says the deal will create the world's fourth largest integrated supply chain management company, providing capabilities in global freight forwarding and contract logistics. It has now terminated a merger agreement with its CEO and largest shareholder James Crane and American private equity firms Centrebridge Partners LP and The Woodbridge Company.
Ceva
Logistics, formerly TNT Logistics, was sold to Apollo Management in August 2006. Ceva UK MD Neil Crossthwaite declined to comment on the purchase.
Reed Business Information Limited.©2008
