Logistics real estate operator Prologis Inc. announced its affiliate Fibra Prologis has acquired a majority stake in Mexican real estate investment trust Fibra Terrafina. The company now has a 77.14% stake in Fibra Terrafina, which is listed on Mexico’s primary stock exchange with a $1.5 billion market capitalization. Fibra Terrafina (TERRA13.MX) manages 42.2 million square…
Bestpass-Fleetworthy Solutions, known primarily for toll management solutions, has acquired Drivewyze, which has made its mark mainly in weigh station bypass. The acquisition for an undisclosed price closed Friday. It is Bestpass’ third significant acquisition in the FreightTech space in the past several years. Bestpass in November acquired Fleetworthy Solutions, with its focus on helping…
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Here are some highlights of RXO’s second-quarter earnings report, released Wednesday: RXO’s revenue in the second quarter dropped to $930 million from $963 million a year earlier, but its gross margin improved to 19%, up from 18.6% in the second quarter of 2023. It still had a GAAP loss of $7 million, though that included…
A bankruptcy judge will soon decide the outcome of more than $7 billion in liability claims from multiemployer pension plans (MEPPs) against bankrupt Yellow Corp. Discrepancies around the interpretation of Congress’ directives and intentions in a 2021 pension fund bailout package were at the center of a Tuesday hearing in a Delaware courtroom. Counsel for…