Kuwait's Agility Says Receives Arbitration Award Worth $23.1 Mln

Monday, Feb 06, 2012

BEIRUT (Zawya Dow Jones)--Kuwait-based Agility, the biggest logistics firm by market value in the Persian Gulf, on Monday said it has received an arbitration award of $23.1 million from Switzerland's Supreme Foodservice GmbH that includes compensation for legal expenses and other costs.

This sum is its share in an overall arbitration award of $41.28 million that the company has won along with its U.S.-based consultant Professional Contract Administrators in a case against Supreme Foodservice, Agility said in a statement on the Kuwaiti bourse website.

Agility's shares climbed 2.8% to close at KWD0.365 in an overall negative market Monday.

By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com

Copyright (c) 2012 Dow Jones & Co.

(END) Dow Jones Newswires

06-02-12 1420GMT