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Dubai's Swift Freight acquired by DSV
- United Arab Emirates: Tuesday, October 02 - 2012 at 01:32
Dubai-based Swift Freight has been acquired by Danish freight forwarder DSV, as part of plans to expand in the Middle East and Africa, Reuters has reported. The purchase agreement includes full ownership of the companies in the UAE, China and India and initially a 33% share of the companies in Africa, DSV said, adding it expects to obtain full ownership of the African entities in the future. Swift generated revenue of about $70m in the last 12 months and has 400 employees, DSV said, without disclosing the purchase price.
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