Air services provider Dnata strengthens its position in the UAE and the international freight forwarding industry by upping its ownership in two of its Dubai-based joint venture companies.
Dnata has purchased a 50 per cent stake in Dubai Express, Freightworks and a 25.5 per cent stake in Bolloré Logistics UAE from the Kanoo Group. As a result of the transaction, dnata is now the sole owner of Dubai Express, Freightworks and holds a majority stake of 51 per cent in Bolloré Logistics UAE.
Although dnata has acquired a majority stake in Bolloré Logistics UAE, the company will continue to be operated as an integrated part of Bolloré Transport and Logistics, a highly diversified, independent industrial group that ranks among the world’s top 10 transport and logistics companies.
Bernd Leo Struck, senior VP UAE Cargo & DWC Airline Services, dnata, and chairman of Freightworks and Bolloré Logistics UAE, notes the company has a comprehensive product portfolio, including a broad range of logistics and freight forwarding services.
“This strategic investment underlines dnata’s commitment to the freight forwarding industry and its growing importance. We are driven to provide superior services to the regional market as well the worldwide network of Bolloré Transport & Logistics as their regional partner,” says Struck.
“We thank our previous joint venture partner, Kanoo Group, for their long-standing partnership with dnata which lasted for over 30 years.”
Freightworks, operating under the licence of Dubai Express and established in 1976, is a Dubai-based international multimodal freight forwarder, logistics and supply chain provider. Along with a wide-range of transportation and logistics solutions in the 3- and 4-PL space, Freightworks’ service offering includes customs compliance, project cargo planning, AOG/aircraft parts and ship spares logistics as well as full service handling of events and exhibitions.
The company also provides commercial and private removal services to local and international origins and destinations including a ‘white gloves’ fine art division, while linking the supply chain requirements of customers through its network of partners worldwide.
Bolloré Logistics UAE is one of the United Arab Emirates’ largest logistic solutions providers. Specialising in international freight forwarding and transportation, the company operates in 106 countries. Its offering includes multi-modal transportation, customs and compliance services, comprehensive supply chain management and the management of industrial projects.
The parties agreed not to disclose the details of the transaction and the current leadership teams will continue to manage the business and operations.