2008-04: SNCF to buy 75 pct of Germany's ITL rail freight operator

SNCF to buy 75 pct of Germany's ITL rail freight operator

PARIS (Thomson Financial) - French state-owned railway company SNCF said it has signed an agreement to acquire 75 percent in Dresden-based rail freight operator Import Transport Logistik.

The purchase price was not disclosed.

ITL, which has subsidiaries in the Netherlands, Czech Republic and Poland, had sales of 45 million euros last year and posted gross operating profit of 3.7 million, SNCF said.

The German business employs 160 people and is very active in the transport of hydrocarbons, chemicals, cereals and raw materials.

On Sunday, Guillaume Pepy, SNCF chairman, announced that the company plans to launch a 135 euros per share offer for the 57 pct it does not already own in French logistics group Geodis.

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