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31-03-22
Agility in Kuwait to obtain John Menzies for USD751M
(MENAFN) Agility, one of the biggest logistics firms in the MENA region based in Kuwait, is going to fully purchase John Menzies based in UK for £571 million (USD751m) to establish an airport facilities behemoth amidst a stable rebound in air travel from the coronavirus pandemic.
According to Agility statement released on Wednesday, Menzies is going to be joined with National Aviation Services, an entity of Kuwait's Agility, once the agreement gets approval from the stockholders of both firms.
“If approved by Menzies’ shareholders and regulatory authorities, the deal will create an industry powerhouse in aviation services,” based on the Kuwait firm, which owns a 19 per cent share in Menzies.
MENAFN31032022000045013568ID1103942532
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