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CF&S has acquired Latvian forwarding company Transekspedicija LV

Last week the logistics and forwarding concern CF&S Estonia AS has closed the deal with UAB Transekspedicija on purchase of shares of SIA Transekspedicija LV. Selling the stake in acquired company enables Transekspedicija UAB to focus to its core trucking activities in Lithuania.

The transaction was advised by Law offices Pohla & Hallmägi and Varul, Ernst & Young Baltic and Keystone Advisers.

The well-developed warehousing, multimodal, rail transport and trucking capabilities of Transekspedicija LV, founded in 2001, will be complemented by the ship’s agency and forwarding activities of CF&S Latvia SIA – a subsidiary of CF&S Estonia AS founded in 2005.

After going through the relevant procedures CF&S Latvia and Transekspedicija LV will be merged together and services will be offered, as agreed with Transekspedicija UAB, under CF&S trademark.

The merged company will be one of the biggest logistics companies in Latvia operating with own trucks and rail rolling stock. The company is offering road and rail transport within EU and CIS countries, handling high and heavy cargoes, ship agency and (bonded) warehousing services. The dedicated joint staff of 50 employees will continue servicing the present and future clients.

 

The board member of CF&S Estonia Kuno Väin will join longtime board member Rostislavs Derečinskis in the board of Transekspedicija LV.

 CF&S, a member of Baltic Maritime Logistics Group AS, has subsidiaries also in Moscow, St. Petersburg and Tallinn. The concern is offering road, rail and air freight forwarding and warehousing services, ship's and liner agency and chartering services in the Baltic states, other EU and CIS countries.

Additional information:

Kuno Väin                            Rostislavs Derečinskis

Board member                      Board member

CF&S Estonia AS                SIA Transekspedicija LV

gsm +372 51 74075              gsm + 371 2 6431512

kuno.vain@cfs.ee                 ros@transekspedicija.lv

03.10.2012

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