RUSSIAN Railways (RZD) has completed the acquisition of 75% of the shares freight logistics operator Gefco from PSA Peugeot Citroën for €800m. PSA Peugeot Citroën will retain its remaining 25% holding in Gefco.
RUSSIAN Railways (RZD) has completed the acquisition of 75% of the shares freight logistics operator Gefco from PSA Peugeot Citroën for €800m. PSA Peugeot Citroën will retain its remaining 25% holding in Gefco.
RZD says the acquisition is part of its strategy to develop a logistics business. RZD will gain access to what it describes as state-of-the-art logistics technologies which it will use to improve its own internal systems.
The existing Gefco management team will be retained along with all of Gefco's business units including those involved with providing distribution services to PSA Peugeot Citroën.