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P 'AKEOV
17th April 2008, Page 20
17th April 2008
Page 20
Page 20, 17th April 2008
— P 'AKEOV
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SNCF makes bid for Geodis
FRENCH RAILWAY company SNCF is orchestrating a bid to take complete control of logistics company Geodis, in which it already holds more than 42% of the shares.
The move would effectively be a renationalisation of Geodis, which was privatised in 1996.
Originallyestablished asthe road freightsubsidiary of SNCF. Geodis operates in 120 countries. Its turnover in 2007 was €4.8bn (£3,83bn), SNCF's bid of €135 (£108) per share values Geodis at €1.1bn (£878m) and would cost the rail company €600m (£479m) for the shares it does not already own.
Geodis' board is now considering the offer.