Kühne+Nagel: Amazon secures an option on shares
Keystone-SDA
United States e-commerce giant Amazon has taken out an option on existing shares in Kühne+Nagel as part of a long-term, “comprehensive” partnership.
The Swiss logistics firm recently lost its main shareholder, Klaus-Michael Kühne, whose approximately 59% of voting rights have been transferred to his foundation, the Kühne-Stiftung.
Amazon will be able to acquire Kühne+Nagel shares in cash or in exchange for its own shares, depending on commercial milestones or the provision of certain services over a seven-year period, according to a statement issued by Kühne+Nagel on Monday.
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With no heirs, Kühne’s Swiss foundation gets $49 billion fortune
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Translated from French, reviewed by an English Department journalist.
