Agility to acquire more share in UK’s John Menzies
Agility announced recently its acquisition of more shares in the UK’s John Menzies, bringing its stakes up to 19% following a recent acquisition of $100 million shares in February.
Under the recent agreement, the company’s subsidiary Agility Strategies Holding acquired an additional 5.8% stake in John Menzies for $43 million at the price of $8.23 per share, according to a statement released recently.
The acquisition is set to complement the operations of National Aviation Services (NAS), the airport and ground-handling services provider owned by agility.
NAS operates in 55 airports and manages more than 50 airport lounges across the Middle East, Africa and South Asia.
The move comes in light of Agility’s strategy to take over enterprises and assets to support its growing operations in the region and beyond, as the global logistics and supply chain sector continues to recover from the pinching disruptions it experienced over recent months.