DHL Global Forwarding (DHL) has signed an agreement to acquire the remaining shares in Danzas AEI Emirates from Investment Trading Group.
Both parties have been managing the company through a joint venture since 1995, with Investment Trading Group holding 60% of the shares and DHL owning 40% of the UAE-based forwarder before the takeover.
DHL announced that the complete integration of Danzas will accelerate growth in the UAE, Gulf Cooperation Council (GCC), and Middle East region.
A logistics and transport services specialist for Dubai and the Northern Emirates, DHL said in the announcement that Danzas will now be integrated into DHL and its customers in the UAE, GCC and MEA region will benefit from more efficient and seamless services.
"Our close and trusted partnership with the Investment Trading Group over many years has taken Danzas to new heights and strengths. We are proud and grateful for what we have achieved together," said Tim Scharwath, CEO of DHL Global Forwarding, Freight.
"As DHL continues on its expansion trajectory across the region, a merger of both organizations will create a winning proposition for customers in the region, driving efficiency and sustainability," he added.
H.E. Matar Humaid Al Tayer, vice chairman & Board Member of Al Tayer Group, noted that Dubai has developed into an important logistics hub in recent years.
"... We are proud to have played an essential part in this success together with our partner DHL," he said.
"As Dubai and the GCC continue to develop economically, we believe that fully integrating Danzas into the DHL network will unleash the potential necessary to become a truly leading logistics provider in the region. We are proud to have been able to guide Danzas to this point in its journey," Al Tayer added.
DHL said as part of the merger, Danzas will operate under the DHL brand in future.
While both Danzas and DHL are working closely together, the integration will enable even more seamless collaboration and the exploitation of synergies and efficiencies, such as shared administrative services or integrated, seamless solutions for customers.
DHL said existing Danzas employees will be a part of the DHL family.
The transaction is also still subject to merger control clearance.