DSV to buy Dubai-based Swift Freight
COPENHAGEN Oct 1 (Reuters) - Danish freight forwarder DSV has agreed to buy Dubai-based Swift Freight, it said on Monday, with the aim of expanding in the Middle East and Africa.
Swift generated revenue of about $70 million in the last 12 months and has 400 employees, DSV said in a statement, which did not disclose the purchase price.
The purchase agreement includes full ownership of the companies in the United Arab Emirates, China and India and initially a 33 percent share of the companies in Africa, DSV said, adding it expected to obtain full ownership of the African entities in the future. (Reporting by Mette Fraende; Editing by Greg Mahlich)
- Target stores' customers hit by major credit card attack
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- As Modi storms into India's election, a quiet alternative emerges
- Facebook, Zuckerberg, banks must face IPO lawsuit: judge
- U.S. prosecutor defends treatment of Indian diplomat |