Dubai – Mubasher: Aramex has confirmed the news referring that the company has entered into discussions for a potential acquisition of MNG Kargo, a Turkish delivery company.
The company is carrying out its initial evaluation; hence, the discussions are in their early stages, the company announced in a bourse filing on Sunday.
The company’s final decision to acquire MNG Kargo is subject to satisfactory findings of the due diligence process, alongside the approval of the company’s senior management and board.
The company further remarked that the transaction's total value has not been determined or agreed upon at this early stage.
Last week, sources told Reuters that Aramex is holding advanced talks to acquire Turkish delivery company MNG Kargo in a deal that could be worth $500 million.
