PSA International Pte Ltd (PSA), through its fully owned subsidiary PSA-BDP Turkey Supply Chain Solutions Pte Ltd, will acquire 75 per cent of the shares of privately-held ALISAN Logistics A.S. (ALISAN).
ALISAN is a logistics company located in Turkey and its scope of services include international and domestic packed distribution, bulk liquid and dry bulk distribution, warehouse operations and value-added services (VAS).
Upon transaction completion, ALISAN will be grouped under the auspices of PSA’s cargo solutions arm, PSA BDP.
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PSA’s Group CEO, Tan Chong Meng, said: “Leveraging PSA BDP and ALISAN’s combined and complementary strengths, we will offer our partners and customers comprehensive end-to-end contract logistics and transportation service offerings in Turkey and beyond, to bring us closer to our mission of enabling smoother, more resilient and sustainable trade.”
With this investment, PSA is expected to benefit from ALISAN’s strong presence in Turkey with its local expertise in contract logistics and domestic distribution, while ALISAN can leverage PSA’s network of deep sea.
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The transaction is subject to formal approvals by the relevant authorities and other customary closing conditions.
This announcement comes a month after PSA put minority stake in Hong Kong’s CK Hutchison Holdings Ltd. on sale