This Company has been an old bid chesnut for many years and under previous management turned down a bid ,from memory,in excess of 150p. New management under Chairman David Fish and CEO Stuart Oades were brought in to rejuvenate the Company and much has been done to generate more business although the UK business has been a drag on the share price.At 60p the shares yield 6.1%. Moreover, Fidelity have just announced a 4.91% stake and Directors have been buyers in the past. This Company may well be a good each way recovery play with a reasonable yield in the meantime and the possibility of being swept in. May be worth consideration? I have purchased today.

Good luck !!!!!!

I bought shares at the original flotation at 115p in ................. 1986 !!!!!

Don't expect fireworks.

Ian

I think the trading statement gave a more reassuring view as perhaps the market was worrying as to whether the dividend would be maintained. The shares have been a good market since the announcement.Will be interesting to see if there has been any further stake building re Fidelity.

Still remaining firm at 70p bid depite general market weakness. May be income funds have found some new interest.

MoneyAM
Logistics company Christian Salvesen reported underlying pretax profits before exceptionals of 12.5m, down from 15.4m in 2006.

The company blamed an 'unacceptable' performance from its UK transport operation.

The company's revenues for the year to end-March increased 10% to 899m, driven by an 'excellent' year in the food and consumer sector, and the sales growth momentum is continuing, it said.

However, the UK transport business is still losing money and turning it around 'remains our top priority', the company said.

'In the current year we expect revenue growth to continue and anticipate some benefit from the restructuring, although it will take longer before we see the full impact,' CEO, Stewart Oades, said.

Guscavalier comment:- UK transport is the drag on performance but the market has been aware of the difficulties and I believe have discounted this factor. The sale of property during the year has reduced debt and produced a exceptional profit. When management can turn round UK transport, the sp should show a marked improvement. Meanwhile, the dividend has been maintained and is covered.

sp 60.75p down 1p after results.

CHRISTIAN SALVESEN PLC

HOLDING(S) IN COMPANY

In accordance with the FSA's Disclosure and Transparency Rules, Christian
Salvesen PLC ('the Company') announces that it has received notification from
Legal & General Group plc that it has an interest in 11,053,485 Ordinary Shares
of 28⅛ p each in the Company and holds a corresponding number of voting rights,
representing approximately 4.16% of the issued share capital and voting rights
in the Company.

8,313,685 of such shares and corresponding voting rights (representing 3.13% of
the issued share capital and voting rights in the Company) is held by a
controlled undertaking, Legal & General Assurance (Pensions Management) Limited.

EHD Peppiatt

Company Secretary

8 June 2007

Guscavalier comment: Salvesen's 2006 Annual Report show a Legal & General holding of 3.83%. against the above increased update of 4.16%.

I believe that this sector will need to consolidate and perhaps say Wincanton may well be a consolidation candidate with Salvesen. The stumbling block in the past has been the family's holding of around 25% but this may well change. To see the likes of Fidelity & L&G on the share register will keep the Board on their toes. Meanwhile at 61p the yield of 6% is useful.

Christian Salvesen


CHRISTIAN SALVESEN PLC

HOLDING(S) IN COMPANY

In accordance with the FSA's Disclosure and Transparency Rules, Christian
Salvesen PLC ('the Company') announces that it has received notification from
Fidelity International Limited on 2 August 2007 that it has an interest in
13,601,914 Ordinary Shares of 28⅛ p each in the Company, representing
approximately 5.12% of the issued share capital and voting rights in the
Company.

The shares and associated voting rights are held as follows:

-0-
*T
Shares/voting rights held Nominee Management Company
1,538,500 J P Morgan, Bournemouth Fidelity Investments
International
11,502,402 J P Morgan, Bournemouth Fidelity Investment
Services Limited
561,012 Morgan Stanley, London Fidelity International
Limited
*T

The Company is also notified that Fidelity International Limited will acquire to
hold 445,012 voting rights as a proxy holder with effect from 31 July 2007.


Guscavalier comment: seems like Fidelity have been buying a few more during market weakness. The shares seem to find support around the 60p level.

sp currently 59p having recovered from about 55p after recent market sell off. Company have announced the 17 million pound sale of a pea trading business, although it is retaining its processing side. Near term outlook for the uk transport interests not bright but, it is reassuring to see a degree of recovery in the sp, which is better than I expected given current market conditions. The 6% yield is probably helping to underpin the sp at present. I continue to hold.

Well it looks like the sp weakness has encouraged two potential suitors to approach the Company in order to make a bid, and the sp moved ahead strongly and is around 64p. It seems the the possible predators are Wincanton (which I speculated on in post 7 ), Deutsche Post, Norbert Dentressangle and Kuehne Nagel. It is also felt in some quarters that Private Equity may be interested given
SVC's undervalued property and cash flow. However, I think it is more likely to be trade interest. The sp could well go higher if 2 interested parties enter the fray but, a condition will probably be that the family sell out.

The bid finally came today at 92p in cash from Norbert Dentressangle and has been approved by the Board. Presumably the Salvesen family decided to sell out. The bid was probably more than was expected having seen estimates around the 80p+ level. Perhaps the extra was the price of getting family consents. Turned out to be a profitable investment plus receiveing a good few dividends along the way.