Dubai, Kuwait’s Agility, one of the largest Gulf logistics companies had signed a new credit facility of 1.4 billion euros.
The transaction is part of a financing round that is expected to total about $3.2 billion, it said.
The company said the money would pay for the company’s growth plans, including the financing of its acquisition of British aviation services company John Menzies, Reuters reported.
Agility did not disclose the source of the credit facility.
Agility finalized its 763 million-pound ($924.37 million) acquisition of John Menzies, which it said would be combined with National Aviation Services (NAS).
The acquisition valued John Menzies at approximately 571 million pounds on a fully diluted basis and about 763 million pounds on an enterprise value basis, it said at the time.
Source: Bahrain News Agency