Meysan Partners and Latham & Watkins are advising Agility Public Warehousing Company KSCP on the sale of its Global Integrated Logistics business.
Agility’s Global Integrated Logistics (GIL) business is one of the world’s top freight forwarders and providers of contract logistics. It offers ocean, air and road freight, warehousing and distribution, and integrated supply chain services in more than 100 countries. Agility GIL also provides specialist solutions for capital projects, oil and gas, chemicals, and fairs and events logistics.
A binding agreement to implement the sale was entered into on 27 April 2021 with DSV Panalpina A/S, a Danish company with more than 56,000 employees in more than 80 countries around the world. The transaction which has an implied equity value of USD 4.1 billion will result in Agility becoming the second largest shareholder in DSV Panalpina, which together with GIL, will have combined pro forma revenue of approximately USD 22 bn and a combined workforce of more than 70,000 employees around the world.
The proposed sale of Agility GIL is one of the largest private M&A deals in the region.
The Meysan team, led by M&A partner Bader El-Jeaan, has been advising on all legal aspects of the transaction, together with Latham & Watkins LLP, led by M&A partner, Michael Bond. The transaction entails both private M&A aspects in Kuwait, as well as public capital markets aspects in Kuwait, and public M&A processes in Denmark, as DSV Panalpina is listed on the Copenhagen Stock Exchange.
Tarek Sultan, Vice Chairman and CEO of Agility, commented: “Our legal counsel at Meysan Partners and Latham & Watkins leveraged their expertise with unwavering support from the very beginning. Their teams provided us throughout the process with robust, highly technical advice in a commercially sound manner that has been critical to this cross-jurisdictional and highly complex transaction being signed successfully.”
Bader El-Jeaan commented: “We have been fortunate to support Agility since the early days of its emergence as a global player, from the acquisitions of GeoLogistics in 2007, and TransOceanic and TransLink in 2006. Tarek Sultan has been the visionary behind this phenomenal growth strategy, and we are honored to work alongside him. Our team remains committed as we move ahead to closing.”
Completion of the sale is subject to limited conditions, customary for a transaction of this nature.
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