Exclusive negotiations announced
The French logistics group Walden announced today that it has entered into exclusive negotiations for the potential sale of its healthcare sector activities (Walden Health) to Yusen Logistics, part of the Japanese shipping group Nippon Yusen Kaisha (NYK).
“Today’s announcement,” commented Yusen Logistics’ President and CEO Hiroki Harada, “represents an important step in our journey to become a leader in healthcare logistics, and we are excited to welcome Walden Health into our group. In recent years, we have expanded our healthcare offering globally to provide customers with diversified logistics services. We believe that combining Walden Health’s high professionalism and reputation with our global network can make our healthcare logistics offering truly unique.”
“Thanks to Yusen Logistics Group,” stated Stéphane Baudry, Chairman of the Walden Group and grandson of founder Marcel Baudry, “Walden Health will become a true global player, capable of offering end-to-end services to customers, leveraging a strongly innovative DNA focused on improving patient care, with a constant commitment to quality. I am pleased to see the strong cultural and strategic affinity between the two organizations and firmly believe that Walden Health is ready for a successful future.”
The transaction is currently under review by Walden’s corporate committees, and following this phase, its completion will be subject to customary regulatory notifications and approvals.
Morgan Stanley and Crédit Agricole-CIB are acting as financial advisors to the Walden Group. The law firm Veil Jourde is legal advisor to the Walden Group. As part of the vendor due diligence and facts book, EY Parthenon handled financial and strategic aspects, EY Société d’Avocats handled tax and HR matters, while the firm BEby Diana Poala managed communications. Rothschild & Co and A&O Shearman are acting as financial and legal advisors, respectively, to Yusen Logistics Group.
