DUBAI – Kuwaiti company Agility, one of the Gulf’s largest logistics companies, said on Sunday it had signed a new credit line of 1. 4 billion euros.
The transaction is part of an investment cycle expected to amount to about $3. 2 billion, he said. The company said the cash would fund the company’s expansion plans, in addition to funding its acquisition of British aviation company John Menzies.
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Agility revealed the source of the line of credit.
Agility had finalized its £763 million ($924. 37 million) acquisition of John Menzies on Thursday, which would be combined with National Aviation Services (NAS).
The acquisition of John Menzies at around £571 million on a fully diluted basis and around £763 million on a commercial basis, he said at the time.
(Reporting via Hadeel Al Sayegh. Editing via Gerry Doyle)
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