LANDSTAR SYSTEM INC acquired Landstar Metro / Landstar Servicios minority equity interests (~21%), a transaction completed in January 2019, structured as all cash. The deal was a Minority buyout.
Landstar Metro / Landstar Servicios minority equity interests (~21%) operates in Transportation logistics, is based in Mexico. On January 29, 2019, Landstar acquired all of the remaining equity interests in Landstar Metro and Landstar Servicios held by their former minority equityholders, who had owned approximately 21% in the aggregate as of December 29, 2018. As of that date, Landstar Metro and Landstar Servicios each became wholly owned subsidiaries of the Company.
Landstar Metro and Landstar Servicios became wholly owned subsidiaries within the transportation logistics segment.
On January 29, 2019, Landstar acquired all of the remaining equity interests in Landstar Metro and Landstar Servicios held by their former minority equityholders. Accordingly, as of such date, Landstar Metro and Landstar Servicios each became wholly owned subsidiaries of the Company.Landstar System FY2020 10-K, Item 1 Business description
Advisory firms were not disclosed for this transaction.