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World Freight Company Intl shops for buyer in over 600 mln euro deal - sources

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HONG KONG, March 21 (Reuters) - Cargo freight services provider World Freight Company International (WFCI) is shopping for a buyer in a deal that could be worth over 600 million euro ($740 million), people with knowledge of the situation told Reuters.

Deutsche Bank is running the sale of the France-headquartered company, which is controlled by U.S. private equity firm Greenbriar Equity Group, the people said.

The bank has sounded out potential buyers including global and regional private equity firms and a handful of strategic players, according to one of them.

A second round of bidding is expected to kick off in the next few weeks, the person added.

WFCI manages about 1 billion euro of freight annually for more than 190 airlines.

It is expected to fetch a double-digit multiple over 60 million euro in earnings before interest, taxes, depreciation, and amortization (EBITDA) in the sale, said the people, who declined to be identified as the information is confidential.

WFCI Chief Executive Officer Pierre Brunet told Reuters it was premature to discuss the company's prospects because decisions had not been taken yet.

Greenbriar and Deutsche Bank declined to comment.

Headquartered in Roissy, France, WFCI acts as a general sales and service agent for airlines, meaning it has exclusive selling rights of an airline's cargo capacity at agreed terms in a specific territory or region, which would reduce airlines' costs.

New York-based Greenbriar, which invests solely in the global transportation sector, acquired the business in 2015 from a range financial investors including 3i Group for an undisclosed amount. (Reporting by Kane Wu; additional reporting by Matthias Blamont in Paris; Editing by Stephen Coates and Kim Coghill)