Monday, Jan 12, 2009
BEIRUT (Zawya Dow Jones)--Kuwait-based Global Investment House's private equity arm said Monday it has completed the acquisition of a controlling stake in logistics firm Jassim Transport & Stevedoring Co.
JTC provides business solutions including cargo and container stevedoring, warehousing, heavy lifting, transportation and equipment leasing, the company said in a statement on the Bahrain bourse Web site.
It also manages the largest fuel distribution operation in the Middle East, operating close to 1,000 fuel tankers to customers including Kuwait National Petroleum Co. and the US Military.
The statement didn't give a value for the deal.
Before the deal, JTC was fully-owned by Kuwait's Boodai Corp., according to Zawya.com data
By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2009 ABQ Zawya Ltd.
(END) Dow Jones Newswires
12-01-09 1233GMT
