Bahri Bolloré Logistics to become an owned subsidiary of Bahri’s business unit
Bahri recently announced that its business unit Bahri Logistics has entered into a sales and purchase agreement with Bolloré 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.
“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,” remarked Eng. Ahmed Ali Alsubaey, CEO, Bahri.
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.