EV Cargo divestiture announced
20 / 02 / 2023
Cargo Services Group and JL Enterprises are to divest from their investments in EV Cargo Holdings Limited, a Hong-based freight forwarder managed by the private equity company, EmergeVest.
Cargo Services Group is a provider of supply chain solutions services as well as one of the major freight forwarders in China and Hong Kong, with a network spanning Asia, Australia, Europe, the Indian subcontinent, the Middle East, South Africa and the US. JL Enterprises invests in the logistics sector globally.
EV Cargo recently acquired the remaining 60% of the shares of Allport Netherlands from its joint venture partner, as well as the remaining shares in EV Cargo Forwarding Belgium.
Last year, EV Cargo acquired Fast Forward Freight, an Amsterdam headquartered air and sea freight forwarder with operations in the Netherlands, Belgium, Germany, Switzerland, Greece, France and the UK, and Spanish air freight forwarder Air Express Cargo.