Holst, Advokater Advokatpartnerselskab
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ICT Logistics was represented by Holst, Advokater during the valuation process, due diligence and during negotiations when selling to DFDS

Complete due diligence of all companies in eight difference countries, notification to the competition authorities in both Russia and Denmark, business valuation, negotiations, transaction documents ... Holst, assisted logistics company ICT Logistics in numerous ways when the company was sold to DFDS.

18In 25 years, ICT Logistics grew from being a single office located in Herning, Denmark into a logistics enterprise with offices in eight different countries, particularly in the Baltic states and the CIS member states.

Therefore, the business was an obvious acquisition opportunity for DFDS having a strategical goal about a greater presence – and better offers for both existing and new customers – in the Baltics and the CIS.

Business valuation and competition authorities

To succeed, ICT Logistics had to go through all phases of an M&A process. And more …

Apart from assisting with setting-up of a virtual data room, verifying material documents from various countries, negotiations and drafting of agreements, Holst, also provided advice on the valuation of ICT Logistics.

Furthermore, because of the size of DFDS, the acquisition required approvals from the competition authorities in both Russia and Denmark. In cooperation with the lawyer representing DFDS, Holst, also attended to this part of the process.

Overall, the whole process took about a year from initiating the opening discussions until the final agreement was signed, and the sale of ICT Logistics was granted the final approval from the Danish competition authorities. Despite the quite long process, both parties were very satisfied with the outcome, and as established by DFDS in the press release about the acquisition:

”DFDS is excited to announce the integration of ICT Logistics into its logistics network. While DFDS has owned a minority share of ICT Logistics since 2006, the acquisition gives an opportunity to strengthen and expand services across multiple markets greatly.”

Practice areas applied