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  • 17-12-14

    Dubai's Abraaj acquires stake in Algerian logistics firm

    (MENAFN) Dubai-based Abraaj Group announced the acquisition of a stake in La Fl"che Bleue Alg"rienne (FBA), the largest company offering logistic services in Algeria and the operator of long-term contracts with global clients, through one of its Funds, Arabian Business reported.

    Abraaj said that this deal will help FBA's growth plans, including its general capacity, the development of sophisticated logistics services, strengthening its corporate governance standards and implementing a fully integrated reporting system, as well as providing the company with enough resources and funds to further grow its market share in Algeria.

    Abraaj said these contributions will happen due to its ample experience and the success it had in its prior investments in the global logistics sector, including Aramex in the Middle East, ARG in Mexico, Rentandes in Colombia, and Crossland Logistics in South East Asia.

    "FBA is our inaugural investment in Algeria and we are excited about entering Africa's largest country by area and unlocking the immense local potential that exists in the country. The key opportunity for the logistics sector in Algeria is intrinsically linked to the underlying growth of the industries that it services," partner and head of MENA at The Abraaj Group said.

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