Dubai Financial Market-listed Aramex is in talks to buy Turkish delivery company MNG Cargo.
According to Arabiya Net, the Dubai-listed shipping company, Aramex, is in an advanced stage of talks to buy Turkish delivery company MNG Cargo, for a value of up to 500 million dollars.
One source stated that the talks are at an advanced stage, and a second source said that Aramex is conducting a technical examination due to due diligence.
Aramex's revenues increased during the second quarter of 2021 by 21% to reach 1.571 million dirhams, compared to 1.294 million dirhams during the same period last year.< /p>
The rise is due to increased demand for cross-border e-commerce services and significant growth in the freight and logistics services sector, the company said.
During the first half of 2021, Aramex's revenue increased by 23% year-on-year to AED 2,996 million, compared to AED 2,445 million during the first half of the year. 2020.
The net profit fell during the second quarter by 31% to 65.5 million dirhams, compared to 94.4 million dirhams during the second quarter of 2020, as the company continued its investments in the transformation Digital to enhance operational efficiency and adapt to rapid changes in consumer behaviors and industry trends.
