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Ekol founder increases stake to 90%

2019-03-14 Source: Jctrans

Ahmet Musul raises shareholding from 54.5% by buying shares from Abu Dhabi-based Invest AD and SBI Holdings of Japan

Ahmet Musul, the founder, chairman and majority owner of rapidly expanding Turkish logistics group Ekol Lojistik, has increased his shareholding in the company from 54.5% to 90% by buying shares from Rigond Finance SARL, a subsidiary of the Abu Dhabi-based Invest AD and SBI Holdings of Japan.

Musul said he had repurchased the shares “due to Ekol’s strong financial structure”. 

Noting the importance of realizing such a transaction under the current market conditions, Musul said: “We thank our former partners, Invest AD and SBI, with whose support the company has undergone tremendous growth since 2010. Now, with the purchase of their shares, our company is once again a company fully owned by Turkish capital. 

“In the coming period, our company will take even more confident steps towards achieving its growth targets. We will continue our best efforts to become a leading logistics company of Europe. Furthermore, with the purchasing of these shares, we can now also accelerate our efforts to transform Ekol into a company which will be fully owned by its employees.”

Ekol is an integrated logistics company founded in 1990, providing international freight, warehousing, domestic distribution, foreign trade, customs, and supply chain management services in 15 countries.

It has distribution centres with 1 million square meters of total indoor space in Turkey, Germany, Italy, Greece, France, Ukraine, Bosnia-Herzegovina, Romania, Hungary, Spain, Poland, Czechia, Bulgaria, Slovenia and Sweden. It also facilitates intermodal transportation with the utilization of its two Ro-Ro vessels, 48 block trains per week and 5,500 vehicles.

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