Bahri Logistics signs an agreement to acquire the remaining stake in a joint venture with Bolloré; Bahri Bolloré Logistics becomes a 100% subsidiary of the Bahri business unit following the acquisition of 40% of the share capital

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RiyadhKSA – Bahri, a global leader in logistics and transportation, announced that its business unit Bahri Logistics has entered into a sale and purchase agreement with Bollore Logisticsone of the largest transport and logistics companies in the world, to acquire 40% of the share capital of their joint venture, Bahri Bolloré Logistics.

Following the proposed transaction, Bahri Bolloré Logistics will become a wholly owned subsidiary of Bahri and will be renamed Bahri Logistics. Bahri’s board and shareholders have approved the acquisition.

Commenting on the announcement, Eng. Ahmed Ali Alsubaey, CEO of Bahri, said: “Since its creation in 2017, Bahri Bolloré Logistics has become a major player in transit services, building on the unique strengths of Bahri and Bollore. We are pleased that the signing of the agreement to acquire our remaining stake in the company paves the way for further integration and helps realize synergies. Furthermore, the transition of the joint venture into a wholly owned subsidiary of Bahri Logistics marks the start of the next phase of its growth and expansion. It also represents another important milestone as we continue to build Bahri’s ability to independently provide full-service logistics solutions to our customers.

Bahri Logistics and Bollore Logistics will continue their partnership under a global agency agreement to continue serving existing and future clients. This agreement aims to leverage the strengths of both companies to develop solutions and services for local and international customers.

Based at RiyadhBahri Bolloré Logistics offers integrated global logistics and supply chain management services for local and international companies operating in Saudi Arabia. It also operates a container yard and provides value-added warehousing services in Jeddah.

(C) 2022 electronic news edition, source ENP Newswire

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