Brink's to Sell BAX Global to German Firm for $1.1 Bln.

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he Brink’s Co. said Wednesday it had signed an agreement to sell its BAX Global operating unit for about $1.1 billion Deutsche Bahn AG.

The transaction is expected to be completed by the end of the year. Net proceeds after taxes and expenses related to the transaction are expected to be about $900 million, Brink’s said in a statement.

BAX Global, headquartered in Irvine, Calif., is a $2.4 billion supply chain management and transportation and logistics company specializing in heavyweight airfreight cargo and package shipments.

BAX is ranked No. 13 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers and No. 13 in the TT Logistics 50 listing of logistics firms.

Michael Dan, Chairman and Chief Executive Officer Brink's, said Brink’s would focus “entirely on security-related services” going forward.