dnata boosts freighter forwarder services with double UAE shares swoop
06 / 02 / 2019
UAE-based ground handler dnata has increased its ownership in two Dubai-based joint venture companies, strengthening its position in the international freight forwarding sector.
The Dubai-based global air services provider has purchased a 50% stake in Dubai Express, Freightworks and a 25.5% stake in Bolloré Logistics UAE from the Kanoo Group.
As a result of the transaction, dnata is now the sole owner of Dubai Express, Freightworks and holds a majority stake of 51% in Bolloré Logistics UAE.
Although dnata has acquired a majority stake in Bolloré Logistics UAE, the company will continue to be operated as an integrated part of France-based Bolloré Transport and Logistics, which ranks among the world’s top 10 transport and logistics companies.
The parties have agreed not to disclose the details of the transaction. The current leadership teams will continue to manage the business and operations.
Bernd Leo Struck, senior vice president UAE Cargo and DWC Airline Services, dnata, 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 the worldwide network of Bolloré Transport & Logistics as their regional partner.”
Struck, who is also chairman of Freightworks and Bolloré Logistics, added: “We thank our previous joint venture partner, Kanoo Group, for their long-standing partnership with dnata which lasted for over 30 years.”
The Kanoo Group, based in the UAE, is a diversified business conglomerate with the main scope in logistics.
Freightworks, operating under the licence of Dubai Express, was established in 1976 and is a Dubai-based international multimodal freight forwarder, logistics and supply chain provider. Its services includes customs compliance, project cargo planning, AOG/aircraft parts and ship spares logistics as well as full service handling of events and exhibitions.
The company also provides commercial and private removal services to local and international origins and destinations including a ‘white gloves’ fine art division, while linking the supply chain requirements of customers through its network of partners worldwide.
Bolloré Logistics UAE is one of the region’s largest logistic solutions providers. Specialising in international freight forwarding and transportation, the company operates in 106 countries. Its offering includes multi-modal transportation, customs and compliance services, supply chain management and the management of industrial projects.
In January this year, Bolloré Logistics UAE was awarded the Authorized Economic Operator (AEO) status by Dubai Customs.