Nippon Express Holdings will acquire Canada-based Metro Supply Chain Group for as much as 2.2 billion Canadian dollars (?255 billion) to strengthen its logistics presence in North America.
The agreement includes the purchase of the company at an enterprise value of CA$1.8 billion, plus a payment of as much as CA$400 million in cash, conditional on Metro Supply Chain achieving certain financial indicators, Nippon Express said in a statement on Friday. The Japanese company said the actual purchase price will be determined after adjustments based on Metro Supply Chain¡¯s net debt and net working capital.
The transaction is expected to close between July and December this year.
Nippon Express is currently assessing the impact of the acquisition on its fiscal 2026 business forecast.
Nippon Express shares were little changed to close at ?3,847 on Friday, before the announcement. The stock has gained 15% this year.
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