German logistics company DHL bought MNG Kargo

DHL Group signed an agreement to buy all the shares of MNG Cargo, one of Turkey’s leading cargo companies.

DHL Group CEO Tobias Meyer said: “E-commerce continues to be one of the biggest drivers of growth for the logistics industry and especially for cargo volumes. MNG Cargo will complete our business portfolio”.

President of the Investment Office of the Presidency Burak Dağlıoğlu said in his statement: “Turkey is a regional hub in the logistics sector with its growing economy, strategic location, competent workforce and established transportation infrastructure. The volume of cargo in our country is increasing day by day with the double-digit growth achieved in electronic commerce.

Dağlıoğlu said: “The acquisition of DHL demonstrates our country’s belief in its potential and its growing appetite for investment.” (AA, DHA)