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The European unit could potentially fetch around $2 billion, based on industry estimates.
XPO Logistics has reportedly restarted its efforts to sell its European transportation unit, according to a recent Bloomberg report. This move aligns with the company's ongoing strategy to streamline its operations and focus on its core business.
Sale Resumption: XPO has renewed its attempt to sell its European transportation business, a plan initially paused in late 2022 due to weakening European capital markets.
Potential Value: The European unit could potentially fetch around $2 billion, based on industry estimates.
Financial Performance: For the 12-month period ending June 30, the European unit generated:
Business Overview: XPO's European operations offer a range of services, including:
The potential sale of XPO's European unit follows a similar move by competitor C.H. Robinson:
This potential sale is part of XPO's broader strategy initiated in late 2020 to break up its conglomerate structure. Previous actions in this plan included:
If successful, the sale of the European unit would complete XPO's transformation into a pure-play, less-than-truckload carrier.
Sources: Bloomberg | FreightWaves
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