Share

Dubai firm acquires SA's Berco Express

Dubai - Dubai's Aramex paid $55.5m from its internal cash balance for the acquisition of South African logistics firm Berco Express, the company said on Tuesday.

The UAE-based logistics company said on Sunday that it had completed the acquisition of Berco and would look to further expansion across southern Africa by opening additional offices and warehouses.

" ... the investment cost in the acquisition reached $55.5m and it was completely financed through Aramex' existing cash balance", the company said in a statement to the Dubai bourse.

The acquisition is part of the company's strategy to expand internationally and follows a recent joint venture with SinoAir in China, and the acquisition of OneWorld Courier and In-Time Couriers in Kenya in the first quarter.

Berco Express operates 15 branches throughout South Africa and employs more than 700 people.
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.92
-0.1%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.45
+0.1%
Rand - Aus dollar
12.35
-0.0%
Rand - Yen
0.13
-0.1%
Platinum
911.00
+1.6%
Palladium
1,008.15
+0.6%
Gold
2,222.33
+1.3%
Silver
24.87
+0.9%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
+2.9%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders