04 June 2015/Categories: CILT, Industry News, Logistics & Supply Chain
XPO Logistics has announced it has entered into agreements with a group of global investors to raise a total of $1.26 billion (£816 million) of equity.
When it has been received in net proceeds, this finance will then be used by the organisation to fund its ongoing growth strategy.
The £3.5 billion purchase of Norbert Dentressangle and other unspecified acquisitions will all be supported with the funding.
Additionally, the previously announced acquisition of Bridge Terminal Transport has now been completed by XPO - and the newly-purchased firm is one of the largest drayage providers in the US.
Chairman and chief executive officer of XPO Bradley Jacobs praised the investors for demonstrating confidence in his company's growth strategy.
"We're delighted to deepen our relationships with several of our largest shareholders and also welcome new blue chip investors to XPO. We appreciate this endorsement of our growth strategy, which is still in its early innings," he commented.
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