/cloudfront-us-east-2.images.arcpublishing.com/reuters/FPHCOSUMK5P35G5J3TN7THTOHM.jpg)
[ad_1]
A delivery man wearing a protective mask unloads packages from a vehicle outside the Aramex office amid the coronavirus disease (COVID-19) crisis, in Bethlehem in the Israeli-occupied West Bank on July 19 2020. REUTERS / Mussa Qawasma
DUBAI, Sept. 12 (Reuters) – Dubai-listed Aramex (ARMX.DU), partially owned by Abu Dhabi public investor ADQ, announced on Sunday that it is in talks to buy Turkish delivery company MNG Kargo.
“We would like to confirm to the market and shareholders that the company has recently entered into discussions with MNG Kargo shareholders for a potential acquisition,” he said in a stock exchange filing, confirming a Reuters article last week. Read more
In the Reuters report, one of the sources familiar with the matter said the potential deal could be worth up to $ 500 million. It comes as relations between regional rivals the UAE and Turkey show signs of improving.
Aramex said in the exchange’s filing that talks are still in their infancy.
Reporting by Saeed Azhar; Editing by Jacqueline Wong
Our Standards: The Thomson Reuters Trust Principles.
Source link
