Romanian Competition Council approves takeover on logistics market

Romania’s Competition Council approved last week the transaction through which Japanese group Yusen Logistics took over Keswick European Holdings Limited and Tibbett Logistics, two companies active in the logistics sector. Tibbet Logistics is an independent logistics services provider working with companies in the automotive, textile, food and beverages and FMCG industries. The company operates over 115,000 sqm of warehouses in Romania and has 1,300 employees locally. It had a turnover of EUR 26 million and a net profit of over EUR 2 million in 2016, according to data from the Finance Ministry. Tibbet Logistics was controlled by British group Keswick Enterprises. Yusen Logistics is part of Japanese group Nippon Yusen Kabushiki Kaisha (NYK), one of the biggest freight carriers in the world. NYK was founded in 1885. editor@romania-insider.com