Indian firm buys stake in UAE's Eurostar Express
India-based logistics firm, DTDC Courier & Cargo Ltd has acquired a majority stake in UAE’s Eurostar Express, the company announced yesterday.
According to the Economic Times (Times of India) newspaper in India, DTDC will own 53% in the company and the UAE based Eurostar group will hold 33%.
"The acquisition allows DTDC to combine its strength with Eurostar and penetrate and consolidate its presence all over the Middle East including GCC and MENA areas, more comprehensively,” said Suresh Bansal, director and head of International Business of DTDC.
“It has enabled more feet on street, robust infrastructure and quality delivery capabilities for DTDC in developed markets such as Dubai and Abu Dhabi.”