John Keells Holdings (JKH) has sold its freight forwarding business in Sri Lanka and India to a Paris-based supply chain group, it was announced on Wednesday.
In a statement, JKH said it has signed a Shar Purchase Agreement on July 4 with Norbert Dentressangle SA, an international transport, logistics and freight forwarding company to acquire the John Keells freight forwarding operations in Sri Lanka and India. The transaction is due to be finalized at the end of August 2012.
The Paris group is listed on the Paris stock exchange, operates in 23 countries and employs 33,000 people. “The acquisition will enable Norbert Dentressangle to strengthen its growing freight forwarding business, in line with its strategy,” the statement added.
JKH sells freight forwarding units in SL and India to Paris group
