Abraaj has taken on minority stake in Turkey’s largest logistics company, Netlog Lojistik Hizmetleri
Abraaj has taken on minority stake in Turkey’s largest logistics company, Netlog Lojistik Hizmetleri

Abraaj takes on minority stake in Turkey’s largest logistics company



Dubai-based Abraaj Group, a private equity firm that invests in emerging markets and manages about $10 billion in assets, acquired a “significant minority stake” in Netlog Lojistik Hizmetleri, Turkey’s largest integrated logistics company with a strong presence in Europe and Asia.

The investment in Netlog is Abraaj’s tenth in Turkey, and indicative of the company’s “conviction about the attractive long-term fundamentals of the Turkish economy,” said Selçuk Yorgancıoğlu, Partner and Regional Head of Turkey and Central Asia at Abraaj Group.

“The transaction also corresponds with our strategy of partnering with businesses operating in structurally sound sectors that have demonstrated robust growth and are primed to achieve further success. Turkey’s geostrategic location creates a huge number of opportunities for the country’s most dynamic businesses to grow beyond their borders.”

Growth is projected to pick up this year in emerging and developing Europe according to the International Monetary Fund driven by a higher growth forecast for Turkey, which has seen a rebound in its exports after four quarters of moderate contraction. Turkey’s economy grew 5 per cent in the first quarter of 2017 on higher government spending and the economy is set to expand this year 2.5 per cent and accelerate 3.3 per cent in 2018, according to the IMF.

“The logistics sector will continue to play a key role in the long-term strategic development of Turkey, bolstered by the government’s plans to further upgrade its logistics infrastructure by 2023, with a focus on high speed rail, motorways and container port facilities,” Abraaj said in a statement. “As the most diversified logistics company in Turkey, Netlog is competitively placed to benefit from these growth drivers.”

Netlog, founded in 2003, operates one of the largest owned fleet in Turkey with over 3,200 transport vehicles and is the largest and most diversified logistics company in the country. Abraaj, which started investing in Turkey a decade ago, did not disclose the size or value of the stake in Netlog. Abraaj has invested in Hepsiburada, Turkey’s largest e-commerce platform in 2015 and Fibabanka last year.

Abraaj started investing in logistics in 2002 with its acquisition of Aramex in the Middle East, which subsequently listed on the Dubai Financial Market. The private equity firm has also invested in logistics operators in South East Asia, Sub-Saharan Africa and Latin America.

“Having grown Netlog to become one of Turkey’s top 100 companies, we are excited to embark on this new journey with Abraaj,” said Netlog Chairman Şahap Çak. “They recognise the value the Netlog leadership and senior management team have brought to the business and are fully aligned with our growth plans.”

If you go

The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at. 
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.   

SPECS

Engine: 4-litre flat-six
Power: 525hp (GT3), 500hp (GT4)
Torque: 465Nm (GT3), 450Nm (GT4)
Transmission: Seven-speed automatic
Price: From Dh944,000 (GT3), Dh581,700 (GT4)
On sale: Now

Four-day collections of TOH

Day             Indian Rs (Dh)        

Thursday    500.75 million (25.23m)

Friday         280.25m (14.12m)

Saturday     220.75m (11.21m)

Sunday       170.25m (8.58m)

Total            1.19bn (59.15m)

(Figures in millions, approximate)

The biog

Name: Atheja Ali Busaibah

Date of birth: 15 November, 1951

Favourite books: Ihsan Abdel Quddous books, such as “The Sun will Never Set”

Hobbies: Reading and writing poetry

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

MATCH INFO

Chelsea 1 (Hudson-Odoi 90+1')

Manchester City 3 (Gundogan 18', Foden 21', De Bruyne 34')

Man of the match: Ilkay Gundogan (Man City)

Indoor cricket in a nutshell

Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

C Side nets between halfway and the bowlers end: 2 runs

D Back net: 4 runs on the bounce, 6 runs on the full

Last-16

France 4
Griezmann (13' pen), Pavard (57'), Mbappe (64', 68')

Argentina 3
Di Maria (41'), Mercado (48'), Aguero (90+3')


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