dnata Bolsters their Foothold in the Freight Forwarding Industry
One of the world’s largest air services providers, Dubai-based dnata, recently announced they had strengthened their position in the UAE and international freight forwarding industry as a result of increasing their ownership in two of their joint venture Dubai-based companies.
dnata have purchased a 25.5% stake in Bolloré Logistics LLC, UAE from Kanoo Group LLC, and a 50% stake in Dubai Express, Freightworks LLC. With these new transactions, dnata now becomes the sole owner of Dubai Express, Freightworks LLC along with a 51% majority stake in Bolloré Logistics LLC, UAE.
No changes in leadership teams will be made at this juncture and all parties concerned have agreed not to disclose the details of the transactions.
Senior Vice President UAE Cargo & DWC Airline Services, dnata, and Chairman of Freightworks and Bolloré Logistics LLC, Bernd Leo Struck said, “As one of the world’s leading cargo service operators, dnata offers a comprehensive product portfolio, including a broad range of logistics and freight forwarding services, to fully meet the diverse needs of customers.”
“This strategic investment underlines dnata’ s commitment to the freight forwarding industry and its growing importance. We are driven to provide superior services to the regional market as well as the worldwide network of Bolloré Transport & Logistics as their regional partner.”
“We thank our previous joint venture partner, Kanoo Group, for their long-standing partnership with dnata which lasted for over 30 years.”