Shalakany is delighted to announce that they have acted as counsel for CEVA Logistics (a leading global contract logistics and freight management company) (“CEVA”) in its joint venture with Egyptian based IBA Freight Services (“IBA”), CEVA’s exclusive Egyptian partner for the past 20 years. The joint venture consists of the acquisition of a majority stake in IBA, cementing CEVA’s aim of becoming a leading regional player by expanding CEVA and IBA’s products base and enhancing the use of local logistics services across the CEVA Logistics network.
This joint venture follows CEVA’s acquisition of a majority stake in AMI Worldwide in the summer of 2020 which added an additional 12 countries to the company’s African network.
Aly El Shalakany, the lead partner on the transaction, said: “We are proud to have assisted CEVA in the expansion of their business in Egypt which will undoubtedly further enhance CEVA’s outreach in the region”.
