Liberty acquires logistics venture

DUBAI — In one of the major regional acquisitions, Dubai-based Liberty Investment Company (LIC) yesterday announced that it had concluded an agreement with international freight-forwarding and logistics company, Air-Tiger Express (ATE), to buy out all of the latter's shares in their joint venture, ATE-Liberty Logistics.

By A Staff Reporter

Published: Mon 1 Aug 2005, 10:18 AM

Last updated: Thu 2 Apr 2015, 4:11 PM

Air-Tiger Express, a well-known consortium of trans-Pacific and North American logistics companies, stated that the company's decision to sell its 50 percent stake in the venture is in line with ATE International's policy to consolidate its operations in the core markets where it has already established a formidable presence.

According to Shaikh Khalid Bin Abdul Aziz Al Qasimi, Chairman of the LIC Group, "Our investment in Liberty Logistics is another example of LIC's strategy of encouraging profitable business trends to build successful frontline companies over time, through acquisitions and strong internal growth. The compelling industry dynamics, combined with the quality of our management team, make us very enthusiastic about the future of this company.’’

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