Dubai – Mubasher: Aramex will not proceed with the acquisition of MNG Kargo Yurtiçi ve Yurtdışı Taşımacılık (MNG Kargo), upon the board’s final decision on 9 December, according to a bourse disclosure on Thursday.

In a separate filing, Aramex clarified that the decision was made due to a recent change in the company’s strategic direction that is related to the transaction at the current time.

The UAE firm announced last September that it had entered into discussions with the shareholders of MNG Kargo for a potential acquisition of the Turkish firm.