CTT: Pioneering New Logistics Frontiers with DHL and CACESA Deals
Deal News | Dec 30, 2024 | Iberian Lawyer
Cuatrecasas, a law firm, has provided advisory services to CTT Correios de Portugal on two major transactions aimed at establishing the company as a leading logistics and e-commerce entity in the Iberian region. The first transaction involves forming a joint venture with the DHL Group in the e-commerce parcel sector, spanning both Portugal and Spain. This joint venture will see mutual stakes exchanged and aims to serve both B2C and B2B markets with a capacity exceeding one million daily shipments. The second transaction involves the acquisition of CACESA, a Spanish company known for its expertise in international e-commerce customs services. These transactions align with CTT’s strategy to strengthen its logistics operations and integrate comprehensive customs solutions into its value chain. Both deals are pending regulatory approvals and the fulfillment of standard conditions. The legal teams from Cuatrecasas provided expertise across corporate M&A, competition law, banking, finance, and taxation to support these transactions.
Sectors
- Logistics and Transportation
- Legal Services
Geography
- Portugal – CTT Correios de Portugal is based here, and part of the joint venture involves operations within the Portuguese market.
- Spain – CTT's acquisition of CACESA and the operational partnership with DHL in Spain are major focuses of the deals.
Industry
- Logistics and Transportation – Relevant due to CTT's strategic initiatives to bolster its logistics capabilities through partnerships and acquisitions, specifically in the e-commerce sector.
- Legal Services – Cuatrecasas, a law firm, is heavily involved in providing legal counsel for the transactions, highlighting the importance of legal advisory in corporate deals.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CTT Correios de Portugal | Target | Company | A Portuguese postal service company expanding its logistics and e-commerce capabilities. |
| DHL Group | Bidding Company | Company | A global logistics company entering a joint venture with CTT in the Iberian e-commerce market. |
| Compaia Auxiliar al Cargo Expres (CACESA) | Target | Company | A Spanish company specializing in international e-commerce customs services acquired by CTT. |
| Cuatrecasas | Legal Advisor | Company | A law firm providing legal services to CTT for both transactions. |