Deals
XPO to Sell Intermodal Unit to STG for $710 million
- Transaction adds to dealmaking run by XPO CEO Jacobs
- Company also has been looking to sell European business
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XPO Logistics Inc. is divesting its North American intermodal business to private equity-backed STG Logistics Inc. for $710 million.
The unit, which handles rail brokerage and other services, generated $1.2 billion in revenue in 2021, according to statement provided to Bloomberg News. XPO said the unit has 700 employees.