"Bahri Logistics" signs an agreement to acquire the remaining share of its joint venture with "Bolure Logistics"
Bahri Bolloré Logistics Services becomes a wholly owned subsidiary of one of Bahri's business segments after acquiring 40% of the capital
Riyadh, Kingdom of Saudi Arabia: Bahri, the world leader in logistics and transportation, announced that one of its business segments, "Bahri Logistics", has signed an acquisition agreement with Bolloré Logistics, one of the largest transportation and services companies. Logistics in the world, according to which it acquires its share of 40 percent of the shares of "Bahri Bolloré Logistics Services".
After the completion of the proposed transaction, Bahri Bolloré Logistics will become a wholly owned subsidiary of Bahri and will be renamed Bahri Logistics, following the approval of the Bahri Board of Directors and shareholders of the acquisition.
On this occasion, Eng. Ahmed bin Ali Al-Subaie, CEO of “Bahri” said : “Since its establishment in 2017, the Bahri Bolloré Logistics Company has been able to strengthen its global position in the field of freight services, benefiting from the leading expertise and the distinguished position of each of the two companies. “Bahri” and “Bulure Logistics.” We are pleased to sign the agreement to acquire the rest of the company’s shares in order to enhance integration and help achieve synergies. The transition of “Bahri Bolloré Logistics Services” to become a wholly owned subsidiary of “Bahri Logistics Services” will mark a quantum leap and the beginning of A new phase of expansion and growth, as we continue to enhance our capabilities to provide independent and full-service logistics solutions to our customers.”
Bahri Logistics and Bolloré Logistics will continue their partnership under a global agency agreement to continue serving current and future clients. This agreement aims to leverage the strengths of the two companies to develop solutions and services for local and international clients