Panalpina completes share buyback program

Panalpina, the global forwarding and logistics company, on Tuesday concluded its share buyback program initiated in August 2007.

The Swiss firm said that, as planned, between Aug. 13, 2007 and Sept. 2, 2008, it repurchased 1.25 million registered shares totaling a value of CHF 184.8 million ($167.1 million) and representing 5 percent of share capital.

It is intended to cancel the repurchased shares by way of a share capital reduction. 

Source: American Shipper