UniCredit buys into Czech cargo firm, IPO planned

15.02.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

UniCredit Group has taken a 30 percent stake in privately held Czech logistics firm C.S. Cargo and the company plans eventually to float part...

...of its share capital, the freight forwarder said on Thursday.

Czech investors Marek Lehecka and Petr Zverinsky will keep a majority in the firm, which had revenues of 2.8 billion crowns ($130.3 million) last year and earnings before interest, tax, depreciation and amortisation (EBITDA) of 270 million crowns.

"C.S. Cargo aims to expand both through organic growth and through market consolidation, mainly acquisitions," the company said in a statement.

"C.S. Cargo shareholders at the same time expect that at the right moment they will offer a part of current and new shares on capital markets," it added.

C.S. Cargo owns logistics companies in the Czech Republic, Slovakia and Russia.

The price UniCredit paid for its stake was not disclosed.

[PRAGUE/Reuters/Finance.cz]

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