Kuehne+Nagel rises on long-term Amazon collaboration deal
Shares in Kuehne+Nagel were up 4.7% in pre-market trade after the Swiss logistics group announced a long-term strategic collaboration with Amazon. The deal includes Amazon Web Services and covers cloud infrastructure logistics. Brokerage Vontobel said the agreement highlights Kuehne+Nagel's strong position in data centre infrastructure logistics and is likely to accelerate growth in its data centre business.
7% in pre-market trade after the Swiss logistics group announced a long-term strategic collaboration with Amazon. Kuehne+Nagel said the deal includes Amazon Web Services and covers cloud infrastructure logistics from construction and equipment deployment to maintenance, upgrades and expansion projects. Brokerage Vontobel said the agreement highlights Kuehne+Nagel's "strong and growing position" in profitable data centre infrastructure logistics, and said the expanded relationship is likely to further accelerate growth in Kuehne+Nagel's data centre business.
The collaboration is supported by a call option on existing Kuehne+Nagel shares, with vesting based on commercial milestones and services over up to seven years. Up to the previous session's close, shares were up 26% YTD.