DUBAI: Kuwait’s Agility has notified Dubai Financial Market (DFM) that the partnership discussion with Swiss based Panalpina have ended, with no agreement reached between the two companies.
“As part of its continuous effort to explore opportunities to grow the business and maximize shareholder value, Agility is currently in preliminary discussions with the Swiss-based global forwarder, Panalpina, on partnership opportunities between the logistics businesses of the two companies,” Agility had earlier announced.
Agility today is one of the world’s largest integrated logistics providers and the largest private owner and developer of industrial real estate in the Middle East and North Africa.
Meanwhile, DSV A/S agreed to acquire Panalpina in a deal worth $4.6 billion that will create one of the world’s largest cargo-handling and logistics companies.[the_ad id=”31605″]