Bolloré and Bahri sign Saudi joint venture deal
28 / 09 / 2017
French forwarding and logistics group Bolloré officially inaugurated Bahri Bolloré Logistics, its joint venture with Saudi Arabian logistics specialist Bahri in Riyadh on 26 September.
Bahri owns a 60% stake in the joint venture, while Bolloré owns the remaining 40% in the new company, which will provide end-to-end logistics and supply chain management solutions to firms operating in Saudi Arabia.
To mark the occasion, Bahri Bolloré Logistics hosted a ceremony at The Ritz-Carlton, Riyadh, with Bahri chairman Abdulrahman M. Al-Mofadhi, Bolloré Transport and Logistics chairman Cyrille Bolloré and deputy head of mission at the French Embassy in Saudi Arabia, Éric Giraud-Telme, in attendance, along with other senior representatives from both companies.
Mohammed al-Mofadhi, Chairman of Bahri, said: “It is only through meaningful partnerships and a shared vision that the transportation and logistics sector can break new ground and explore new horizons of growth.”
Bahri acting chief executive Ali al-Harbi added the new joint venture would play “a significant role in driving an important objective of Saudi Arabia’s Vision 2030, to further raise the Kingdom’s ranking in the global logistics market.”
Cyrille Bolloré said the new company would work in key sectors especially aerospace, defence, oil and gas, fashion and healthcare.