SNCF Logistics’ investment in BLS Cargo approved
SWITZERLAND: SNCF Logistics’ planned acquisition of a 45% stake in BLS Cargo will come into effect at the beginning of July, BLS AG said on June 14. This follows Swiss and German regulatory approval for the planned acquisition, which had been announced by the companies on February 16. From July BLS AG will hold a 52% stake in BLS Cargo, SNCF Logistics 45% and Ambrogio Group the remaining 3%.
BLS said co-operation with SNCF and the French national operator’s Captrain subsidiaries would strengthen the partners’ north-south freight business, with improved cross-border links and the ability to offer more consistent services. BLS Cargo was established in 2001. Deutsche Bahn held a stake from 2002, but at the end of 2013 switched its Gotthard transit freight contract to SBB Cargo, and as a result sold its 45% holding back to BLS in January 2015.
This led BLS to begin seeking a new partner.