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FinancialNews


  • 13-01-19

    Saudi TAL purchased at USD80m by Aramex

    (MENAFN) Saudi Arabia's for Commerce and Contract Company (Saudi Tal) was purchased by Aramex under an agreement valued at roughly USD80 million.

    "Saudi Arabia is Aramex's largest market in the Middle East and holds significant growth potential for the business," CEO of Aramex Bashar Obeid affirmed.

    "Our acquisition of Saudi TAL supports Saudi Arabia's Vision 2030, which aims to encourage private sector investment to diversify the economy," the CEO noted.

    "This acquisition is also in line with our strategy to have leaner and more efficient operations in all markets we operate in, and will allow us to focus on upgrading last-mile delivery through innovative solutions, which will ultimately result in an enhanced customer experience," Obeid added.

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