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The Dubai-based Green Dome Investments (GDI) is set to fully acquire Transcorp International, a cold-chain logistics firm operating in the UAE, Saudi Arabia and Qatar, for 225 million UAE dirhams ($61.3 million), as part of its expansion strategy.
The Saudi Tadawul-listed SISCO Holding owns a 31.67% equity stake in GDI. The acquisition will be financed through equity provided by GDI’s shareholders, with SISCO covering AED 75 million of the total purchase price.
The buyout, which is expected to complete in the coming weeks, will see GDI acquiring CE-Ventures’ equity stake in Transcorp.
Elite Co, the operating arm of the logistics and supply chain investments platform GDI, will integrate Transcorp’s operations into the company to create a GCC-based last-mile and express logistics provider.
Together, Elite Co. and Transcorp will operate across five GCC countries, managing a fleet of over 1,500 vehicles, 27 warehouses and serving over 800 clients.
(Writing by Bindu Rai, editing by Seban Scaria)
