• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Exclusive-Dubai courier Aramex in talks to buy Turkey’s MNG Kargo -sources

September 9, 2021 by David Barret Leave a Comment

September 9, 2021

By Davide Barbuscia and Ebru Tuncay

DUBAI (Reuters) – Dubai-listed courier Aramex, partly owned by Abu Dhabi state investor ADQ, is in advanced talks to buy Turkish delivery company MNG Kargo, three sources said.

The potential deal, which one of the sources familiar with the matter said could be worth as much as $500 million, comes as relations between regional rivals the United Arab Emirates and Turkey show signs of improvement.

One of the sources said the talks were at an advanced stage and a second said the pair were engaged in due diligence.

“As a matter of course, we do not comment on rumour or speculation,” an Aramex spokesperson said.

MNG Kargo declined to comment.

Aramex, in which ADQ bought a 22.25% stake last year, announced this week it has split its core businesses to capture growth in the post-COVID-19 transportation and logistics industry.

As part of the reshuffle, it has created a new regional structure and appointed a chief strategy officer to head its international expansion and merger and acquisition plans.

Established in 2003, MNG Kargo is one of the leading courier services companies in Turkey, owned by private equity firm Turkven and the Sancak family since 2017. The company has over 850 branches and more than 11,000 employees.

Turkey’s President Tayyip Erdogan held talks with UAE National Security Adviser Sheikh Tahnoun bin Zayed al-Nahyan last month which included economic cooperation and UAE investment in Turkey.

Abu Dhabi conglomerate International Holding Co, of which Tahnoun is chairman, is seeking investment opportunities in Turkey, its chief executive officer told Reuters last month.

While political differences between the two countries run deep, Ankara has moved to ease tensions with several Arab powers over the conflict in Libya, internal Gulf disputes and rival claims to Eastern Mediterranean waters.

An Emirati official told Reuters this month the Gulf state was interested in reinforcing ties, pointing to trade and investment opportunities in transportation, health and energy.

(Reporting by Davide Barbuscia in Dubai and Ebru Tuncay in Istanbul;Editing by Elaine Hardcastle)

Source Link Exclusive-Dubai courier Aramex in talks to buy Turkey’s MNG Kargo -sources

David Barret
David Barret

Related posts:

  1. Islamic State ‘Beatle’ to plead guilty to U.S. terrorism charges
  2. Microsoft is ending support for another iconic Windows offering
  3. Amazon is going on a massive hiring spree
  4. U.S. factory orders increase in July despite supply constraints

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • How Fast Were Dinosaurs? Guineafowl Races Reveal They Were Probably Slower Than We Thought
  • New Claim For World’s Oldest Rocks Dates Back A Whopping 4.16 Billion Years
  • Pre-Inca Temple Was A “Ritual Gateway” To Lost Civilization Of Tiwanaku
  • NASA Study Gave Illegal Drugs To Spiders And Watched What Happened To Their Webs
  • Space Selfies & DJing A Party From Orbit – How Astronaut Luca Parmitano Brought Space To Earth
  • Regardless Of Political Affiliation, Most US Adults Actually Support Vaccine Requirements For Kids
  • Now Is The Perfect Time To See The “Summer Triangle”
  • Can A Brain Be Preserved And Uploaded? Neuroscientist Survey Reveals “Surprising” 40 Percent Probability That Yes, It Could
  • You Could Be The First Ever Human To See A Specific Galaxy In This Incredible Space Video
  • First Pieces Of The Planet Mercury May Have Been Found On Earth After “Longstanding Mystery”
  • “Miracle” Bioplastic Reflects 99 Percent Of Sun’s Rays, Massively Reducing Building Energy Use
  • Are These 2 African Gray Parrots The Only Non-Human Animals To Ever Ask A Question?
  • How Forensic Scientists Are Reconstructing Faces Using DNA Found At Crime Scenes
  • New Non-Invasive Option For Treating Non-Melanoma Skin Cancer In A Single Session
  • Evolution Running Backwards? That’s What This Unlikely Organism Appears To Be Doing
  • How Did The Starfish Become A Star? 500-Million-Year-Old Fossil Solves Evolutionary Mystery
  • JWST Has Discovered Its First Exoplanet – And It’s A Baby Saturn-Sized One!
  • Rare “Moonwalking” Killer Whale Behavior Hides Much More Gory Truth
  • Dead Pulsars Are Emitting Radio Waves. Massive “Mountains” Measuring 1 Centimeter Tall Could Be To Blame
  • 40,000-Year-Old Mammoth Ivory Boomerang And Human Finger Hint At Mysterious Prehistoric Rituals
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version