Sunday, May 31, 2020

Transactions: June 2020

Park Hacienda. Image courtesy of JLL Capital MarketsREAD THE DIGEST SALES Property Asset Type Location Buyer Seller Notes/Arranged By Value Date Announced 330 Madison Avenue Office Manhattan Munich Re Abu Dhabi Investment Authority CBRE represented the seller in the...

Dnata raises stake in two freight forwarders

Air services provider Dnata has bolstered its position in the UAE and the international freight forwarding industry by increasing its share in two of its Dubai-based JV companies.

Dnata has purchased a 50% stake in Dubai Express, Freightworks and a 25.5% stake in Bolloré Logistics UAE from the Kanoo Group. The company is now the sole owner of Dubai Express, Freightworks and holds a 51% majority share of Bolloré Logistics UAE.

Bernd Leo Struck, SVP UAE Cargo & DWC airline services, Dnata, and chairman of Freightworks and Bolloré Logistics UAE: “This strategic investment underlines our commitment to the freight forwarding industry and to providing superior services for the regional market, as well as to the worldwide network of Bolloré Transport & Logistics.” (ah)

www.dnata.com

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