October 9, 2024

Bahri announces purchase agreement with Bollore Logistics

Facebook
Twitter
LinkedIn
Eng. Ahmed Ali Alsubaey, CEO of Bahri

Bahri, a global leader in logistics and transportation, announced that its business unit Bahri Logistics has entered into a sales and purchase agreement with Bollore Logistics, one of the largest transport and logistics companies in the world, to acquire 40 percent 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. The Board of Directors and shareholders of Bahri have approved the acquisition.

Commenting on the announcement, Eng. Ahmed Ali Alsubaey, CEO of Bahri, said: “Since its establishment in 2017, Bahri Bolloré Logistics has grown into a strong player in freight forwarding services, building on the unique strengths of Bahri and Bolloré. We are pleased that the signing of the agreement to acquire our remaining stake in the company will pave the way for greater integration and help realize synergies. Furthermore, the joint venture’s transition to a fully owned subsidiary under Bahri Logistics marks the start of the next phase of its growth and expansion. It also represents another important step as we continue to bolster Bahri’s capability to provide full-service logistics solutions to our customers independently.”

Bahri Logistics and Bolloré 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 clients.

Headquartered in Riyadh, Bahri Bolloré Logistics offers integrated global logistics and supply chain management services for local and international companies operating in Saudi Arabia. It also runs a container yard and offers value-added warehousing services in Jeddah.

Press Release receive on email

Share.

RELATED POSTS

Jazeera
American Express join forces with Jazeera Airways
Batelco retail shops undergo digital transformation
Batelco revamps its retail shops
Partnership agreement signing between Armin Moradi, CEO and Co-founder of Qashio and Gina Peterson-Skyrme, Vice President and Country Business Development Lead for the UAE & Oman
Mastercard inks agreement with Qashio
  • logo banner warba
  • Mutual Trust Bank Plc
  • Asialink Finance

LATEST POSTS

The Strategic Alliances & Partnerships 2024 Conference provides a unique platform for attendees to learn, connect, and share knowledge, ultimately empowering businesses to strengthen their competitive edge in today’s dynamic business environment.
EIOC Banner 2024
Facilio, a leading provider of property operations and maintenance software, recently announced a significant new deployment with Berkeley Services Group, a prominent integrated facilities management (IFM) company in Dubai. 
ENOC Group expands its compact station network to strengthen fuelling infrastructure in the UAE. Image Courtesy-ENOC Group