Invest AD plans to acquire Minority Stake in EKOL

PSU major Invest AD, has decided to make an investment of 50 million euros (Dh276 million) with the aim to acquire a significant minority equity stake in Ekol Lojistik A.S. (EKOL).

The dealing is the first by the financial services company’s (Invest AD) new private equity fund called ‘Private Equity Partners II’ and it will be structured in the form of a capital surge to help EKOL fund its expansion proposals.

Invest AD’s private equity fund, is making an investment in fast growing companies in the Middle East as well as North Africa region, with a strong focus on Turkey, Saudi Arabia, Egypt and the UAE.

EKOL, which controls and runs 1,100 vehicles and 16 warehouses in Turkey, is active in providing integrated logistics facilities such as transportation, warehousing, foreign trade consulting as well as exhibition logistics and a number of value added services.