Wincanton sells selected businesses
U.K-based logistics company Wincanton said it has signed conditional agreements to dispose of some European operations.
Wincanton said it will sell some trucking activities in Germany and businesses in Poland, Hungary, Czech Republic and Slovakia to the Raben Group.
In another deal it said it will sell some logistics operations in the Netherlands to JCL Transport und Logistik.
Wincanton, which has operations throughout western Europe, said net cash proceeds from the disposals are expected to be about 30 million euros ($41 million). The businesses employ about 2,850 who will transfer to Raben and JCL when the deal is completed.
Wincanton said it would use proceeds to reduce debt and would focus on core markets and areas with growth potential.
Wincanton sells selected businesses
