Aramex buys Saudi TAL in $80mn deal

RIYADH / WAM

Aramex, the global provider of comprehensive logistics and transportation solutions, anno-unced the acquisition of the KSA-based firm, Saudi TAL for Comm- erce and Contract Company, for approximately $80 million.
Bashar Obeid, CEO of Aramex, said, “Saudi Arabia is Aramex’s largest market in the Middle East and holds significant gro-wth potential for the business. Our acquisition of Saudi TAL supports Saudi Arabia’s Vision 2030, which aims to encourage private sector investment to diversify the economy. This acquisition is also in line with our strategy to have leaner and more efficient operations in all markets we operate in, and will allow us to focus on upgrading last-mile delivery through innovative solutions, which will ultimately result in an enhanced customer experience.”