Brinks sells BAX for $1.1 billion: Deutsche Bahn will pair U.S.--based forwarder with European-based Schenker, Stinnes Logistics.(Transportation: Air & Expedited)(Company Profile)

It's official: Brinks will sell BAX Global, its $3 billion forwarding and logistics unit, to German railway company Deutsche Bahn. The deal that completes the overhaul of the American integrated air express market closed when Deutsche Bahn agreed to pay $1.1 billion in cash for BAX.

"The sale of BAX Global represents an exciting opportunity for the BAX team to join with an industry leader that is committed to being a major long-term player in the field of freight transportation and logistics" said Brinks Chairman, President and CEO Michael Dan. It also marks a new direction for Brinks. "Going forward, our company will be focused entirely on security-related services," …