Industry rumour says ABX Logistics is up for sale

The industry rumour mill is at it again, with reports that 3i is considering selling off ABX Logistics for around €600 million, substantially more than it paid eighteen months ago when it bought the company from SNCB for a reported €80 million.

According to Bloomberg, 3i is discussing the sale of ABX Logistics with three publicly-quoted companies, although these companies have not been identified.

Industry analysts reckon one possible bidder could be Penske Logistics, a company that already has a strategic alliance with ABX as well as a joint venture in Brazil.

The former SNCB subsidiary was in financial trouble before it was bought by 3i, and was in debt to the Belgian government to the tune of around €176 million.