Aramex ac­quires Saudi TAL for $80 mil­lion

The Gulf Today - Business - - REGION -

RIYADH: Aramex, the global provider of com­pre­hen­sive lo­gis­tics and trans­porta­tion so­lu­tions, has an­nounced the ac­qui­si­tion of the Saudi Ara­bia-based com­pany, Saudi TAL for Com­merce and Con­tract Com­pany Lim­ited (Saudi TAL), for ap­prox­i­mately $80 mil­lion.

Bashar Obeid, Chief Ex­ec­u­tive Of­fi­cer of Aramex said: “Saudi Ara­bia is Aramex’s largest mar­ket in the Mid­dle East and holds sig­nif­i­cant growth po­ten­tial for the busi­ness. Ac­qui­si­tion of Saudi TAL sup­ports Saudi Ara­bia’s Vi­sion 2030, which aims to en­cour­age pri­vate sec­tor in­vest­ment to di­ver­sify the econ­omy. Our strategy is 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.”

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