(Bloomberg) — XPO Inc. has revived a sale of its European transportation business, according to people familiar with the matter, almost two years since it last scrapped the attempt to divest the operation.
The New York-listed logistics firm has been working with advisers and sounding out potential buyers for the business, which includes truckload and freight forwarding services, the people said. The unit could fetch as much as $2 billion in a sale, one of the people said.
Deliberations are ongoing and XPO could decide to hold onto the assets for longer, said the people, who asked not to be identified because the information is private.
A representative for XPO declined to comment.
XPO unveiled plans in 2022 to split its freight brokerage and North American trucking operations into two publicly traded companies, leaving it to focus on the so-called less-than-truckload business of smaller shipments. The European business was to be unloaded through either a sale or listing on a European stock exchange, the company said at the time. Nine months later, XPO said it wouldn’t divest the European unit, citing weakened capital markets.
Shares of XPO have risen 59% in the past year, giving the company a market value of about $13.6 billion. In 2023, XPO generated about 60% of its revenue in the US, with the rest coming from Europe, according to data compiled by Bloomberg.
©2024 Bloomberg L.P.
Jonas Club Software, the premier technology solutions provider for the private club industry, is to be the headline sponsor of the CMAE 2024 European
Australia has introduced a new law setting a minimum age limit for social media use, aimed at protecting young users from online harm.
The Malta National Aquarium has been honoured with the prestigious European Business Winner award for its outstanding initiative during the European Week for W
Rebecca Kane Burton has seen the chaos of events. After a disastrous opening at the Co-op Live arena (involving falling air conditioning units), she was he