In 2008, Itella Group acquired the Russian logistics group NLC, in which RosEvroGroup was to remain a minority shareholder with a 10 percent holding until the end of 2010.
Itella has now brought the acquisition of the minority share forward in order to clarify the legal structure of ItellaNLC. On October 21, 2009, Itella paid EUR 22 million to RosEvroGroup for this 10 percent holding. Moreover, the seller may receive an additional sum bound to the company's result development in the following years.
As one of the few companies with a broad network of logistics centers in Moscow as well as six other major cities in Russia, ItellaNLC is the leading warehousing services provider in the country. ItellaNLC has about 600,000 square meters of warehousing space. In addition to warehousing, ItellaNLC provides services for transport all over Russia as well as global air and sea transport.
More information:
Senior Vice President Vesa Vertanen, +35840-8462753, vesa.vertanen@itella.com
