UPAC, a Subsidiary of Agility Announces Signing of a Preliminary Agreement
United Projects for Aviation Services Company KSCP (UPAC) declares that one of its subsidiaries had signed a preliminary agreement with one of the subsidiaries of National Real Estate Company KSCP for the development of a commercial mall in Abu Dhabi (the “Project”) and the amount of UPAC’s investment in the Project may reach USD 225 million.
The expected financial impact of this investment on the financial statements of the Company cannot be determined at this stage as the final agreement is under review for signature. Such expected financial impact for this investment on the Company’s financial statements will be announced as per the CMA disclosure requirements upon signing the final agreement.
Agility brings efficiency to supply chains in some of the globe’s most challenging environments, offering unmatched personal service, a global footprint and customized capabilities in developed and developing economies alike. Agility is one of the world’s leading providers of integrated logistics. It is a publicly traded company with more than $4.1 billion in revenue and more than 22,000 employees in over 500 offices across 100 countries. Agility’s core commercial business, Global Integrated Logistics (GIL), provides supply chain solutions to meet traditional and complex customer needs. GIL offers air, ocean and road freight forwarding, warehousing, distribution, and specialized services in project logistics, fairs and events, and chemicals. Agility’s Infrastructure group of companies manages industrial real estate and offers logistics-related services, including e-government customs optimization and consulting, waste management and recycling, aviation and ground-handling services, support to governments and ministries of defense, remote infrastructure and life support.