Brink’s Closes BAX Global Sale for $1.1 Billion
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The divestiture of BAX Global is an important strategic milestone that enables us to focus exclusively on supporting the growth of our security-related businesses,” said Michael Dan, Brink’s chairman and chief executive officer.
he Brink’s Co. said Monday it had completed the sale of its BAX Global operating unit to Deutsche Bahn AG for $1.1 billion.
The deal was first announced in November. (Click here for previous coverage.)
Brink’s said it retained ownership of its Air Transport International subsidiary, pending receipt of required regulatory approval. In the interim, it said it expected ATI operations to have minimal impact on the company’s financial position.
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.
