July 6, 2020 / 7:17 AM / a month ago

Maersk buys customs broker KGH Customs Services for $281 mln

COPENHAGEN, July 6 (Reuters) - Maersk said on Monday it had agreed to buy Sweden-based customs broker KGH Customs Services for 2.6 billion Swedish crowns ($281 million), as the container shipping group seeks to expand its end-to-end logistics services.

Maersk will acquire KGH from private equity firm Bridgepoint Development Capital on a cash and debt-free basis and expects synergies on earnings before interest, tax, depreciation and amortisation to reach 50 million to 75 million crowns. ($1 = 9.2689 Swedish crowns) (Reporting by Jacob Gronholt-Pedersen, editing by Louise Heavens)

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