VTG Aktiengesellschaft, one of the leading wagon hire and rail logistics companies in Europe, and Kuehne + Nagel, one of the leading global logistics companies, are planning a merger of parts of their rail logistics activities. Both parties signed the related letter of intent. A majority participation of VTG is aimed for.

This merger represents an expansion of the long-term partnership that has existed between VTG and Kuehne + Nagel within the scope of their joint company Transpetrol for more than 20 years. The new joint venture would expand the present rail logistics activities of the partners, continuing the growth strategy of VTG Rail Logistics and enabling Kuehne + Nagel to offer its customers an extended product range. The goal is to strengthen the market position in the European rail logistics business. In addition, the transaction allows an expansion of the logistics solutions offered in the Industrial, Agricultural and Petrochemical Goods product segments. From a geographical point of view, the joint coverage area ranges all over Europe into Russia and Turkey.

The final contracts that will be worked out after signing the letter of intent are subject to the approval of the relevant corporate bodies and antitrust authorities. The decision is expected for the second half of 2013.