Acquires an equity stake in parcel logistics company AJEX
DHL eCommerce, the e-commerce logistics specialist of DHL Group, and AJEX Logistics Services, have entered into an agreement in which DHL will acquire a minority stake in the Saudi Arabian parcel logistics company.
The agreement was signed during a ceremony attended by Pablo Ciano, CEO, DHL eCommerce; Yin Zou, Executive Vice President Corporate Development, DHL Group; Mohammed Bin Abdulaziz Al Ajlan, Deputy Chairman of Ajlan & Bros Holding, and Ajlan Bin Mohammed Al Ajlan, Group Managing Director of Ajlan & Bros Holding.
“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,” stated Pablo Ciano, CEO of DHL eCommerce.
Partnership
“By partnering with DHL eCommerce, a globally trusted e-commerce specialist, we will be well-positioned to meet this demand in the future,” states Ajlan Bin Mohammed Al Ajlan, Group Managing Director of Ajlan & Bros Holding.
With 1,500 team members, AJEX provides domestic parcel processing and delivery through an extensive network that includes over 50 facilities and a fleet of more than 900 vehicles.
Moving forward, AJEX will continue to lead the business in partnership with DHL eCommerce, which will not only contribute its expertise in the international parcel sector but also have representation on the management board. Additionally, DHL eCommerce has secured the option to increase its interest to a majority stake.
The deal and the outlined partnership are contingent upon the regulatory approvals. The transaction will only be implemented after obtaining clearance under the relevant merger control legal requirements.
