Kuehne+Nagel rises after long-term Amazon collaboration deal
AMZN•Shares rise on Amazon collaboration
Shares in Kuehne+Nagel KNIN.S are seen up 4.7% in pre-market trade after the Swiss logistics group announced a long-term strategic collaboration with Amazon.
Cloud infrastructure logistics expanded
Kuehne+Nagel says the deal includes Amazon Web Services, covering cloud infrastructure logistics from construction and equipment deployment to maintenance, upgrades and expansion projects.
Call option tied to commercial milestones
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.
Brokerage sees stronger data centre position
Brokerage Vontobel says the agreement highlights Kuehne+Nagel's "strong and growing position" in profitable data centre infrastructure logistics. It says the expanded relationship is likely to further accelerate growth in Kuehne+Nagel's data centre business.
