July 16, 2018 / 6:07 AM / a month ago

Morgan Stanley Infrastructure bids to take over Germany's VTG

FRANKFURT, July 16 (Reuters) - Warwick Holding GmbH, a unit of Morgan Stanley Infrastructure, on Monday announced a cash takeover offer for shares of VTG it does not already own at 53 euros ($61.97) apiece.

The deal values the German rail logistics company at around 1.5 billion euros, according to Thomson Reuters data.

Warwick said it owns 49 percent of VTG after Kuehne Holding AG agreed to sell its stake of around 20 percent.

Shares in VTG traded more than 10 percent higher in pre-market trade after the news of the takeover offer.

$1 = 0.8550 euros Reporting by Tom Sims; editing by Jason Neely

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