Mubasher: National Aviation Services (NAS), a subsidiary of Agility Public Warehousing, has acquired a 51% stake in Kenya-based Siginon Aviation in exchange for around $40 million (KWD 12 million).

Siginon Aviation is the largest aviation cargo management and ground handling company in Kenya, according to a bourse filing on Sunday.

NAS will manage Siginon's businesses including the operations in Nairobi and Eldoret International Airports, major African aviation and cargo hubs.

The investment value will have a financial impact on the company during the fourth quarter (Q4).