Financial Wire

Nippon Express Holdings to Acquire Metro Supply Chain Group

-- Nippon Express (TYO:9147) said it agreed to acquire Canada-based Metro Supply Chain Group for an enterprise value of 207 billion yen through a wholly owned subsidiary, according to a Friday filing on the Tokyo Stock Exchange.

The company will purchase 11.8 million shares, representing a 100% stake, from LDC Metro Holdings and CDP Investissements in a cash transaction.

An additional earn-out payment of up to 46 billion yen may be paid if certain financial targets are met.

The acquisition is aimed at strengthening the group's presence in North America and expanding its contract logistics capabilities across sectors including retail, automotive, healthcare, and technology.

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