Dubai –  Mubasher: Aramex is holding advanced talks to acquire Turkish delivery company MNG Kargo in a deal that could be worth $500 million, three sources told Reuters.

The potential acquisition comes as relations between the UAE and Turkey begin to improve.

With more than 850 branches, MNG Kargo has been founded in 2003 and is owned by the private equity firm Turkven and the Sancak family since 2017. 

It is noteworthy to mention that Aramex has decoupled its core businesses as part of a new operating model that aims to improve its customer services and capture growth opportunities, namely in the B2C and B2B customer segments.