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Avelon Group confirms that it has started due diligence
Avelon Group, the leading vehicle logistics group in the Baltic Sea region, confirms that it has started due diligence in respect of a transaction that would see it combine its vehicle logistics business with that of the Moscow-based Rolf Group’s vehicle logistics companies. The transaction is designed to create the leading vehicle logistics business in Russia and Northern Europe in which Rolf would hold a significant majority.
A combined business would expect to report revenues of around 500 million dollars in 2009 and would then employ more than 1,200 people across seven countries.
The transaction remains subject among others to satisfactory conclusion of due diligence with further information only being available at the completion of any deal.
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