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Editor in chief: Angelo Scorza
18/03/19 15:00

Musul almost sole owner of his own business

Ekol’s founder purchases back shares from Abu Dhabi’s invest ad & Japan’s SBI Holdings to rise up to over 90%

Ahmet Musul, the founder and majority owner of Ekol Lojistik A.Ş., has purchased 37% of Ekol shares held since 2010 by Rigond Finance SARL, a subsidiary of the Abu Dhabi-based Invest AD and SBI Holdings Inc of Japan. The Turkish Competition Authority has approved the acquisition.

Previously owning 54.5% of the shares in Ekol Lojistik A.Ş., Ahmet Musul, the Chairman of Ekol Lojistik, has increased his stake to over 90% following the share transfer.

Musul stated that they have completed the share transfer following finalization of the legal approval processes. Noting the importance of realizing such a transaction under the current market conditions he said: “We thank our former partners, Invest AD and SBI, with whose support the company has undergone tremendous growth since 2010. Now, with the purchase of their shares, our company is once again a company fully owned by Turkish capital. In the coming period, our company will take even more confident steps towards achieving its growth targets. We will continue our best efforts to become a far ahead leading logistics company of Europe. Furthermore, with the purchasing of these shares, we can now also accelerate our efforts to transform Ekol into a company which will be fully owned by its employees.”

Ekol, an integrated logistics company founded in 1990, provides best-in-class international freight, warehousing, domestic distribution, foreign trade, customs, and supply chain management services in 15 countries. Its business model is bolstered by technological inspiration that blends wisdom, emotion, and conscience while constantly offering customers integrated, interconnected, and innovative solutions. The Group boasts distribution centers with 1 million square meters of total indoor space in Turkey, Germany, Italy, Greece, France, Ukraine, Bosnia-Herzegovina, Romania, Hungary, Spain, Poland, Czechia, Bulgaria, Slovenia and Sweden and facilitates intermodal transport with the utilization of its 2 ro-ro vessels, 48 block trains per week and 5,500 vehicles.

Angelo Scorza

TAG : Finance