Kuehne + Nagel to Acquire J. Martens Holding

Swiss logistics firm Kuehne + Nagel said Monday that it will buy J. Martens Holding AS, a Norwegian service provider to the oil and gas industry, Reuters reported.

Martens had revenue of about $184 million last year, Reuters said.

J. Martens also has operations in markets such as Singapore, Great Britain and the Netherlands, Kuehne + Nagel told Reuters.

The transaction is subject to regulatory approval.