Kühne Holding and partner EQT invest in Flixbus
Published: Thursday, Jul 4th 2024, 16:20
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The German company Flix is gaining new shareholders. The holding company of the Swiss-German logistics entrepreneur Klaus-Michael Kühne and the Swedish finance company EQT are jointly acquiring a 35% stake in the Munich-based travel provider known for its green fleet.
The investment is part of a long-term strategic partnership, the companies announced on Thursday. In addition to a primary investment in Flix, Kühne Holding and EQT Future will acquire shares from existing Flix shareholders, according to the statement. This investment will further strengthen Flix's balance sheet and help the company achieve profitable growth, according to the statement.
Flix is the largest long-distance bus provider in Europe. Now the company is also stepping on the gas with its green Flixtrains. Flixbuses also operate outside of Europe, for example in the USA, Canada, India, Brazil and Chile. Last year, turnover grew by 30 percent and reached 2 billion euros. Adjusted operating profit before depreciation and amortization (EBITDA) amounted to 104 million euros.
Expansion in the transport sector
With this investment, Kühne Holding says it intends to expand its holdings in the logistics and transportation industry to include long-distance public transport by road and rail. However, a spokesperson for the holding company declined to say how large its stake in Flix is when asked: "We have agreed not to disclose the financial terms."
All of Klaus-Michael Kühne's business interests are bundled in Kühne Holding AG. These include a majority stake in Kühne+Nagel International AG and shareholdings in the shipping company Hapag-Lloyd AG, the Lufthansa Group and the German chemicals trader Brenntag.
EQT is a global investment organization with total assets under management of EUR 242 billion.
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