CONSORTIUM COMPLETES TAKEOVER OF CAT

CONSORTIUM COMPLETES TAKEOVER OF CAT    A consortium comprising the express and mail group TPG, the car shipping operator Wallenius Lines, the automotive logistics provider AutoLogic and the car manufacturer Renault has taken over the management of CAT, the former logistics arm of Renault.
   The car manufacturer has retained a 20-percent stake in its former operation as a member of the new owning consortium, called Albateam. CAT will continue to serve Renault as a customer.
   CAT employs about 2,500 staff, mainly in France, and has annual revenues of 1.2 billion euro ($1 billion). Albateam said that it has received clearance from the European Commission for the takeover of CAT.
   It said that CAT is now an independent logistics group specialized in the distribution of vehicles, manufactured goods and spare parts.