FedEx to Acquire Brazilian Transportation and Logistics Company, Rapidão Cometa

FedEx Corp. FDX announced today that it has signed an agreement to acquire the Brazilian transportation and logistics company, Rapidão Cometa Logística e Transportes S.A., the latest step in FedEx's strategy for profitable growth in Latin America. The acquisition will further enhance FedEx Express international and Brazil business offerings and continues a long-term commitment to the growing Latin American region. This acquisition will afford FedEx Express's customers access to Rapidão Cometa's nationwide domestic transportation and logistics network. FedEx expects that the transaction, which is subject to customary closing conditions, will close in the third quarter of 2012. The acquisition of Rapidão Cometa, which has been one of FedEx's authorized representatives in Brazil for the past 11 years, will supplement the FedEx Express service portfolio in Brazil and continue its Latin America expansion through key strategic investments.