Kuwait-based Agility, the Gulf’s biggest logistics provider by market value, said on Thursday it had signed an agreement to buy a Chinese freight forwarder in a deal worth up to $30.6 million.
The purchase of China’s Cosa Freight, will enable Agility to provide marine cargo services in China, Hong Kong, the US and Canada.
The deal is estimated to be worth between $20.8 million and $30.6 millionn, Agility said in a statement on the Kuwaiti bourse website.
Officials at Agility could not be reached for comment. (Reuters)
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