ADVFN - Advanced Financial Network.
HOME» NYSE » F » FDX Stock Price » FDX Stock News

Fedex Share News

 Fedex Corp Stock Price
FDX Stock Price
 Fedex Corp Stock Chart
FDX Stock Chart
 Fedex Corp Stock News
FDX Stock News
 Fedex Corp Company Information
FDX Company Information
 Fedex Corp Stock Trades
FDX Stock Trades

FedEx To Buy Brazilian Transport Co. Rapidao Cometa

DOW JONES NEWSWIRES FedEx Corp. (FDX) has agreed to buy Brazilian logistics and transport company Rapidao Cometa Logistica e Transportes S.A. as it furthers its expansion into Latin America. The terms of the deal, expected to close in the third quarter, weren't disclosed. Shipping giant FedEx has been acquisitive lately in its bid to expand internationally, recently acquiring French express-transportation company Tat Express and Polish shipping company Opek Sp. x o.o. in its bid to expand in Europe. The company said the acquisition of Rapidao Cometa, one of the largest logistics providers in Brazil, is in line with the company's long-term strategy of expansion in Latin America. Rapidao Cometa has been an authorized representative of FedEx for 11 years. "Brazil is a market with tremendous growth potential--both in the overall economy, as well as in the logistics sector," said Juan N. Cento, president of FedEx Express in Latin America and the Caribbean. "FedEx will now be able to provide a more comprehensive portfolio of services in Brazil, including international air express, domestic ground and value-added services such as supply chain and logistics solutions," he said. After the deal closes, FedEx Express will offer all international services to Rapidao Cometa customers, while FedEx customers will have access to domestic package and freight services, logistics and distribution services. The acquisition includes 45 operational branches and around 145 distribution points, roughly 770 vehicles and trailers, and 9,000 employees across Brazil, for an expected total of 9,500 FedEx employees in Brazil. The integration will be achieved in phases over a period of 18 to 24 months. FedEx reported in March that its fiscal third-quarter earnings more than doubled from a year earlier, even as it noted that the U.S. and global economies had slowed. FedEx shares closed at $89.28 on Friday and were inactive premarket. Trading was closed Monday for the Memorial Day holiday. The stock is up 6.9% so far this year. -By Kristin Jones; Dow Jones Newswires; 212-416-2208; kristin.jones@dowjones.com

Stock News for Fedex (FDX)
DateTimeHeadline
08/24/201519:10:00Etihad Got $2.5 Billion Cash Injection from Abu Dhabi
08/21/201503:22:00FedEx to Formally Launch $4.8 Billion Offer for TNT Express on...
08/21/201501:00:00Recommended Public Cash Offer by FedEx for All Issued and Outstanding...
08/20/201518:20:00FedEx and Pilots Reach Tentative Agreement on Collective-Bargaining...
08/18/201507:30:00U.S. Postal Service Tries Hand as Fishmonger, Grocer
08/17/201517:09:00Proxy Statement (definitive) (def 14a)
08/17/201512:11:00Fourteen FedEx Drivers Earn Honors at National Truck Driving...
08/14/201509:00:00FedEx Corp. Board Declares Quarterly Dividend
08/13/201516:13:37Logistics Movers: FedEx Names Lange as COO of Forwarding Unit
08/13/201509:00:00FedEx Trade Networks Names Dr. Udo Lange as COO
08/12/201509:00:00GENCO Recognized as Best-in-Class
08/03/201517:03:56Four U.S. Airlines Object to Complaints Against Persian Gulf...
08/03/201517:00:08Four U.S. Airlines Object to Complaints Against Persian Gulf...
08/03/201516:57:32Four U.S. Airlines Object to Complaints Against Persian Gulf...
07/31/201519:59:08UPS Buys Firm To Aid Logistics
07/31/201515:50:04UPS to Buy Coyote Logistics for $1.8 Billion
07/31/201515:30:42UPS to Buy Coyote for $1.8 Billion as Delivery Giants Turn to...
07/31/201512:14:37EU Probes FedEx, TNT Deal -- 3rd Update
07/31/201511:09:12EU Probes FedEx, TNT Deal -- 2nd Update
07/31/201510:43:00Intended Offer by FedEx for TNT Express Enters Phase II Review...

Fedex and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad