Parcel Service Inc. has reached agreement to acquire TNT Express N.V., in an all-cash offer valued at approximately $12.56 per ordinary share. Total value of the transaction was set at $6.77bn.
AirBridgeCargo Airlines has inaugurated a cargo link between Northern Europe and China. The carrier has introduced weekly Boeing 747-300 freighter service, focusing primarily on the movement of engineering and automotive parts from the industrial region of North Germany to the Far East.
Analyst Insight: Central Eastern Europe (CEE) is developing into a lucrative market for ERP software integrators and solution providers. With economies in most CEE countries undergoing structural changes and modernization across a variety of industries, there is a growing need for more robust enterprise information technology infrastructure. The demand is increasing across multiple industries, especially in manufacturing, utilities and the public sectors. - Viktoria Sadlovska, managing director and CRO at Prameya Research
Saudi Airlines Cargo will begin operating three weekly 747 freighters from the Benelux (Belgium, Netherlands and Luxembourg) region to Dubai, United Arab Emirates in March.