News Details :
News Details:
Headline : Germany,Italy,Switzerland : BLS agreed deal to sell a 45% stake in its rail freight subsidiary BLS CARGO to SNCF
Summary : SNCF Logistics will acquire a significant stake of BLS Cargo, a unit of Switzerland-based BLS.

BLS on Thursday has made an announcement on its settlement of an agreement to sell a 45% stake in its rail freight unit BLS Cargo to SNCF.

The sale deal will be completed upon receipt of clearances from the pertinent competition authorities.

BLS, despite this transaction, will continue to be the majority shareholder of BLS Cargo with a stake of 52%, whereas the companys partner Ambroglio Group will hold its 3% interest in the joint venture business.

BLS Cargo, meanwhile, has stated that the partnership will facilitate reinforcement of the business activities of both the operators on the transalpine routes amid Germany and Italy, in which SNCF Logistics, via its Captrain arm, carries out its operations in the rail freight market dynamically.

In January 2015, BLS repurchased a stake of 45% in BLS Cargo from DB Schenker Rail. Since this move, the Swiss company has been in search of a strategic partner for its rail freight operations. This has happened after DB Schenker Rail decided to end its agreement for intermodal services amid Italy and Germany through the route of Gotthard with BLS Cargo.