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Agility's EGM approves to sell logistics business to Danish firm

Agility's EGM approves to sell logistics business to Danish firm
Agility will become the second-largest shareholder in DSV
AGLTY
AGLTY
0.91% 995.00 9.00

Mubasher: The extraordinary general meeting (EGM) of Agility Public Warehousing has approved an agreement to sell the company's global integrated logistics business to Denmark-based DSV Panalpina.

The full share transaction is expected to be completed in the third quarter (Q3) of 2021, according to the company's recent bourse filing.

In return, Agility will become the second-largest shareholder in DSV with a stake of around 8% in the combined company.

It is noteworthy to mention that in late April, the company's board has approved to sign an agreement with DSV Panalpina to sell its global integrated logistics business for an equity value of $4.1 billion.