SBB Cargo sells shares to logistics providers
SBB Cargo has sold a minority stake of its operations to a joint venture of the Swiss logistics companies Planzer, Camion Transport, Galliker and Bertschi. The companies, joined in the entity Swiss Combi, acquire a 35 percent shareholding in the Swiss rail freight transport business SBB Cargo.
In September 2018, the state-owned Swiss rail company SBB communicated its intention to identify partners for a minority investment in its rail freight business. SBB strives to shift the market positioning of SBB Cargo towards more entrepreneurship. Accordingly, SBB Cargo was positioned as independent group company within SBB Group on 1 January, 2019.
The four family businesses move significant volumes in the Swiss and international road and rail freight transportation markets. They have a mutual interest in a sustainable modal split between rail and road as well as in a competitive Swiss rail freight market offering. Accordingly, they “intend to contribute to a successful development of SBB Cargo as well as to sustainable and environmental transport logistics”.
The 35 percent equity participation of Swiss Combi and the corresponding minority shareholder rights should ensure a partnership-driven market development of the rail freight business. SBB will remain majority shareholder of SBB Cargo with a 65 percent stake. The Board of Directors of SBB Cargo will be constituted by three representatives of SBB, two representatives of Swiss Combi, and one independent Board Member.
Closing of the transaction is subject to approval of the relevant antitrust authorities, foreseen to be granted in spring 2020. The parties agreed not to disclose the value of the transaction.