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Tibbett nears German acquisition
Written by Business Weekly   
Friday, 17 October 2003
Elstree logistics and supply chain management group, Tibbett & Britten, is one step closer to acquiring the unlisted German logistics business, Vfw AG, following the announcement that it purchased over 62 per cent of Vfw’s share capital. Elstree logistics and supply chain management group, Tibbett & Britten, is one step closer to acquiring the unlisted German logistics business, Vfw AG, following the announcement that it purchased over 62 per cent of Vfw’s share capital.

The tender offer for Vfw was made after Tibbett’s initial purchase of a 27.5 per cent stake from chief executive, Clemens Reif and his family, at the beginning of September.

The completion of the sale is now only conditional on German competition approval, which is expected at the end of the month.
 
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