Nippon Express to Buy Metro Supply for as Much as C$2.2 Billion

Nippon Express Holdings Inc. will acquire Canada-based Metro Supply Chain Group for as much as C$2.2 billion ($1.6 billion) to strengthen its logistics presence in North America.

The agreement includes the purchase of the company at an enterprise value of C$1.8 billion, plus a payment of as much as C$400 million in cash, conditional on Metro Supply Chain achieving certain financial indicators, Nippon Express said in a statement on Friday. The Japanese company said the actual purchase price will be determined after adjustments based on Metro Supply Chain’s net debt and net working capital.