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Abu Dhabi-listed EasyLease, a subsidiary of International Holding Company (IHC), has acquired a controlling interest in Gallega Global Logistics to cash in on the growing logistics industry.
The 51% stake of undisclosed value includes Gallega’s 3.5 million square feet of logistics facilities in Abu Dhabi and Dubai, the company said in a statement on the Abu Dhabi Securities Exchange (ADX).
Gallega is a logistics service provider owned by Ghassan Aboud Group, with a portfolio spanning from vehicle yards to spare parts warehouses, according to its website. It manages shipping, customs documentation and related logistics, as well as more than 130,000 vehicles.
“This acquisition strengthens our position in the mobility and logistics sectors,” EasyLease said in a separate filing with ADX.
EasyLease intends to become a key player in the region’s logistics industry, with plans to expand service offerings and enter new markets, according to Ahmad Al Sadah, CEO of EasyLease.
(Writing by Cleofe Maceda; editing by Seban Scaria)
