WINCANTON COMPLETES TAKEOVER OF P&O TRANS EUROPEAN

WINCANTON COMPLETES TAKEOVER OF P&O TRANS EUROPEAN    Wincanton PLC, a British logistics service provider, has completed the takeover of the contract logistics business of the London-based shipping and ports group Peninsular and Oriental Steam Navigation Co.
   Wincanton has paid the P&O group '152.5 million ($244 million) in cash for the acquired business, which trades under the name P&O Trans European.
   The group’s contract logistics arm, the main activity of P&O Trans European, provides third party logistics services and supply chain management in Europe. The contract logistics business has revenues of '746 million (about $1.2 billion) and employs over 7,000 staff. The sale does not affect P&O Trans European’s smaller unit load transport division, called Ferrymasters, which remains within the P&O group.