Rhenus says current shareholders LKW Walter, Hupac, Le Jeune Capital Partners, Bertschi and MSC will continue to maintain their holdings in Crossrail and the company will retain its existing management team, headquarters, and trading name.

The transaction will be subject to approval by the relevant competition authorities before the acquisition is finalised.

Crossrail was formed in 2004 and employs 370 staff with an annual turnover of around SFr 140m ($US 160m). The company specialises in operating international north-south services from the Netherlands, Belgium and Germany to Italy via the Swiss Transalpine corridors.