Nouvelle fusion importante en vue F. Maas et DSV
Nouvelle fusion importante en vue F. Maas et DSV
Voir : http://www.dsv.dk/dsv/meddelelser/gb/fransmaas_2_050106gb.pdf
DSV and Frans Maas confirm intention to merge
The combined businesses of Frans Maas and DSV will have annual revenues of approximately €4.1 billion, 19,000 employees and own operations in more than 50 countries. (1/6/2006)
DSV’s proposed recommended cash offer of €38 per ordinary share of Frans Maas, including any dividend with respect to the financial year 2005, puts a value of €225 million on Frans Maas’ share capital.
Based on the estimated 2005 year-end net interest bearing debt of approximately €208 million, the implied enterprise value of the offer amounts to €433 million.
Frans Maas’ supervisory board and executive board Maas fully support the intended offer. A majority of the shareholders of Frans Maas representing 58.5% of the issued share capital have signed an irrevocable undertaking to tender their shares under the intended offer.
For the full year 2005, Frans Maas expects to realise revenues of approximately €1.08 billion and an EBITA margin of around 2%.
Frans Maas and DSV both believe that consolidation in the transport sector is set to gain momentum, driven by increasing demands from global industries and required economies of scale on both an operational and administrative level.
The proposed merger will have a number advantages for Frans Maas:
The new company will be better positioned for road, air & sea and logistics operations to face increasing competition
The combination will enable Frans Maas to fully utilise its network through increased volumes
The proposed transaction will give Frans Maas the necessary financial flexibility to pursue future investment opportunities
Clients will have improved services at competitive terms and access to the extensive combined international network
Employees will be part of a much larger and more profitable group, with high growth expected in the years ahead thereby creating more jobs.
The integration process will be co-ordinated by Kurt Larsen (CEO of DSV) and Arvid Manneke (chairman of Frans Maas’ executive board), who will join the executive board of the merged group as executive vice president.
Mr H van Iwaarden will become senior manager of the group. In addition, it is the intention that one member of Fran Maas’ supervisory board will join DSV’s non-executive board following the completion of the offer.
Given DSV s strong track record in successfully integrating businesses while improving operational margins, DSV expects to be able to realise significant synergies. DSV expects that the combined group in 2009 may be able to reach an EBITA-margin in the region of 5 - 6%, with a substantial proportion of the impact realised as early as 2007 and 2008.
Voir : http://www.dsv.dk/dsv/meddelelser/gb/fransmaas_2_050106gb.pdf
DSV and Frans Maas confirm intention to merge
The combined businesses of Frans Maas and DSV will have annual revenues of approximately €4.1 billion, 19,000 employees and own operations in more than 50 countries. (1/6/2006)
DSV’s proposed recommended cash offer of €38 per ordinary share of Frans Maas, including any dividend with respect to the financial year 2005, puts a value of €225 million on Frans Maas’ share capital.
Based on the estimated 2005 year-end net interest bearing debt of approximately €208 million, the implied enterprise value of the offer amounts to €433 million.
Frans Maas’ supervisory board and executive board Maas fully support the intended offer. A majority of the shareholders of Frans Maas representing 58.5% of the issued share capital have signed an irrevocable undertaking to tender their shares under the intended offer.
For the full year 2005, Frans Maas expects to realise revenues of approximately €1.08 billion and an EBITA margin of around 2%.
Frans Maas and DSV both believe that consolidation in the transport sector is set to gain momentum, driven by increasing demands from global industries and required economies of scale on both an operational and administrative level.
The proposed merger will have a number advantages for Frans Maas:
The new company will be better positioned for road, air & sea and logistics operations to face increasing competition
The combination will enable Frans Maas to fully utilise its network through increased volumes
The proposed transaction will give Frans Maas the necessary financial flexibility to pursue future investment opportunities
Clients will have improved services at competitive terms and access to the extensive combined international network
Employees will be part of a much larger and more profitable group, with high growth expected in the years ahead thereby creating more jobs.
The integration process will be co-ordinated by Kurt Larsen (CEO of DSV) and Arvid Manneke (chairman of Frans Maas’ executive board), who will join the executive board of the merged group as executive vice president.
Mr H van Iwaarden will become senior manager of the group. In addition, it is the intention that one member of Fran Maas’ supervisory board will join DSV’s non-executive board following the completion of the offer.
Given DSV s strong track record in successfully integrating businesses while improving operational margins, DSV expects to be able to realise significant synergies. DSV expects that the combined group in 2009 may be able to reach an EBITA-margin in the region of 5 - 6%, with a substantial proportion of the impact realised as early as 2007 and 2008.