Lufthansa Cargo to Acquire German Terminal Operator LUG

M&A · Partnership
โดย FreightWaves·DE·Read original
Summary · why it matters

Lufthansa Cargo, the logistics arm of Deutsche Lufthansa Group, has agreed to acquire LUG air cargo handling GmbH, a German airport service provider, to boost its ground handling capacity and diversify revenue. LUG, currently owned by the Dettmer Group, operates at Frankfurt, Munich, and Hamburg airports, employs about 400 people, and manages over 538,000 square feet of warehouse space. The deal, subject to regulatory approval, will keep LUG operating independently, with no service changes for customers. Lufthansa Cargo, the world's 14th-largest carrier by traffic, is also building a $682 million, 3.5 million-square-foot cargo terminal at its Frankfurt hub as part of its premium strategy focusing on high-margin sectors like pharmaceuticals and semiconductors. Financial terms were not disclosed.

Impact on stocks 1

Industrials▲ · 1 stocks
Deutsche Lufthansa AG
LHA
▲ PositiveCapitalrelevance

Lufthansa Cargo agrees to acquire LUG to boost ground handling capacity and diversify revenue, plus is building a $682M Frankfurt cargo terminal.

Off-coverage companies 2

LUG air cargo handling GmbHPrivate± Mixed
Capitalrelevance

LUG is being acquired by Lufthansa Cargo but will keep operating independently with no service changes; financial terms undisclosed.

Dettmer GroupPrivate± Mixed
Capitalrelevance

Dettmer Group, current owner of LUG, is selling the terminal operator to Lufthansa Cargo; terms undisclosed.

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