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Agility's unit to acquire 13% stake in UK's John Menzies

Agility's unit to acquire 13% stake in UK's John Menzies
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AGLTY
AGLTY
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Mubasher: Agility Strategies Holding Limited, a wholly-owned subsidiary of Agility Public Warehousing, will acquire a 13.20% stake in London Stock Exchange-listed John Menzies in exchange for GBP 73.40 million (KWD 30 million).

Agility will purchase up to 12.10 million ordinary shares in John Menzies from different sellers at a price of GBP 6.05 per share, according to a bourse filing on Thursday.

Upon its completion, the transaction will have an impact on the company's financials according to the accounting treatment approved by auditors.