Kuehne + Nagel has acquired more than 70 percent of the shares of Universal Freight Services from the Khimji Ramdas Group in Oman.
The transaction enables the logistics company to enter the Omani market as the majority shareholder of a joint venture.
Since 1999, Kuehne + Nagel has been represented in Oman by the Khimji Ramdas Group as its sales agent. The new joint venture company operates under the global Kuehne + Nagel brand as Kuehne + Nagel and is headquartered in Muscat.
“This acquisition fits our objective to significantly expand our activities in Oman, one of the region’s key growth markets,” said Werner Kleymann, regional manager of the Middle East, Turkey and Central Asia at Kuehne + Nagel, in a written statement.