Riyadh – Mubasher: DHL eCommerce, the e-commerce logistics specialist of DHL Group, agreed with AJEX Logistics Services to acquire a minority stake in the Saudi Arabian parcel logistics company.
The agreement fosters DHL eCommerce’s expansion into the rapidly growing Saudi Arabian e-commerce parcel market, according to a press release.
DHL eCommerce has secured the option to increase its interest to a majority stake.
The deal and the outlined partnership are subject to regulatory approvals. Meanwhile, the transaction will only be implemented after obtaining clearance under the relevant merger control legal requirements.
Pablo Ciano, CEO of DHL eCommerce, said: "We are confident that AJEX, with its commitment to quality and strong customer focus, supported by a highly motivated team and backed by Ajlan & Bros Holding, is the perfect partner to help us expand our e-commerce-focused parcel business into this booming market.”
“Together, leveraging our international expertise in parcel operations, we will deliver reliable, affordable, and sustainable delivery solutions," Ciano added.
Ajlan bin Mohammed Al Ajlan, Group Managing Director of Ajlan and Bros Holding, commented: “The demand for a parcel service provider with local expertise and a global network is steadily rising. By partnering with DHL eCommerce, a globally trusted e-commerce specialist, we will be well-positioned to meet this demand in the future.”
With 1,500 team members, AJEX provides domestic parcel processing and delivery through an extensive network that includes more than 50 facilities and a fleet of above 900 vehicles.
