The start of exclusive negotiations has been announced
The French logistics group Walden announced today that it has entered into exclusive negotiations for the possible sale of its activities at the service of the health sector (Walden Health) to Yusen Logistics of the Japanese shipping group Nippon Yusen Kaisha (NYK). “Today’s announcement – commented the president and CEO of Yusen Logistics, Hiroki Harada – represents an important step in our journey to become a leader in healthcare logistics and we are excited to welcome Walden Health to our group. In recent years, we have expanded our offer in the healthcare sector globally to provide customers with diversified logistics services. We believe that the combination of high professionalism and reputation of Walden Health and our global network can make our truly unique healthcare logistics offer.”
“Thanks to Yusen Logistics Group,” said Stéphane Baudry, president of the Walden Group and grandson of founder Marcel Baudry – Walden Health will become a true global player, able to offer end-to-end services to customers, leveraging a highly innovative DNA oriented towards improving care with a constant commitment to quality. We are pleased to note the strong cultural and strategic affinity between the two organizations, and I firmly believe that Walden Health is ready for a successful future.”
The transaction is currently being evaluated by Walden Works Councils and, after this phase, it will be subject to the usual notifications and regulatory approvals. Morgan Stanley and Crédit Agricole-CIB act as financial advisors to the Walden Group. The Veil Jourde law firm is the group’s legal advisor. As part of vendor due diligence and fact books, EY Parthenon was responsible for the financial and strategic aspects, EY Société d’Avocats the tax and HR departments, while the BEby Diana Poala firm is in charge of communication. Rothschild & Co and A&O Shearman act as financial advisors and Yusen Logistics Group’s legal representatives.
