Bahri said t its business unit Bahri Logistics has entered into a sales and purchase agreement with Bolloré Logistics, one of the largest transport and logistics companies in the world, to acquire 40 percent of the share capital of their joint venture, Bahri Bolloré Logistics. Following the proposed transaction, Bahri Bolloré Logistics will become a wholly owned subsidiary of Bahri and will be renamed Bahri Logistics. The Board of Directors and shareholders of Bahri have approved the acquisition.
Headquartered in Riyadh, Bahri Bolloré Logistics offers integrated global logistics and supply chain management services for local and international companies operating in Saudi Arabia. It also runs a container yard and offers value-added warehousing services in Jeddah.