1.6K Hellmann Global Logistics (HLG) has entered into an agreement with Deutsche Bank, which will provide liquidity to its global logistics operations.
The acquisition, which is expected to close in the second quarter of 2017, is expected be worth $1.4 billion, the company announced on Thursday.
The German bank, which was previously part of Hellmann International, said it would provide a liquidity pool of up to $1 billion in cash, as well as access to Hellmann facilities in London, New York, Paris, and the U.S. The deal will bring Hellmann global logistics expansion to an estimated 1.4 million jobs.
“This deal gives Hellmann a new level of liquidity to support the global growth of its logistics business, with a view to building on the success of Hellman International’s global expansion,” said Hellmann chairman Thomas Hellmann in a statement.
“The Hellmann Group will now be able to leverage its international network to support its growth.”
The company said it is expected that it will continue to be a part of the Deutsche Bank banking group, although the deal will not affect its existing financial services business.
“We look forward to deepening our relationship with Deutsche and supporting our clients with more flexibility and more value,” said John Henschel, Hellmann chief operating officer.