Denmark’s fund manager A.P. Moller Capital has announced that A.P. Moller Capital – Emerging Markets Infrastructure Fund II and APM Capital Morocco Fund have agreed to acquire a majority stake in Moroccan logistics company Globex Investissement.
The funds will partner with Globex chief executive officer and founder, Omar El Kadiri, who will continue to lead the business alongside a management team, as the company enters its next phase of growth, A.P. Moller Capital said in a statement.
Globex is underpinned by local market licensing agreements, with market positions in express delivery, road freight, freight forwarding and customs brokerage, according to the statement.
Completion of the acquisition is subject to customary conditions precedent, including merger control clearance by the Moroccan Competition Council.
Kim Fejfer, chief executive officer of A.P. Moller Capital, said: “We are excited to partner with Omar El Kadiri through our investment which directly aligns with our core sector and geographic focus. Globex is an established market leader in transportation and logistics, a sector in which we have deep domain expertise and a strong regional presence, and Morocco is rapidly developing into the leading North African logistics hub, supported by strong macroeconomic tailwinds.”
Ghislane Guedira, chief executive officer of APM Capital Morocco S.A, added: “We’re delighted to announce our investment in Globex. With the combination of A.P. Moller Capital’s sector heritage and Globex’s strong management team, we look forward to supporting the company as it continues to strengthen its market position and contribute to the development of Morocco’s transport and logistics sector, while maintaining a strong focus on sustainability.”
