MOL acquires stake in Tanzania-based Alistair Group
Mitsui O.S.K. Lines (MOL) has announced that it has agreed to acquire a 25% stake in Tanzania-based Alistair Group, a cross-border logistics company serving Sub-Saharan Africa.
Alistair Group has offices in eight countries in Southeast Africa. Its business centers on cross-border logistics services for truck transport of copper, cobalt and other critical mineral resources produced in the Democratic Republic of Congo and Zambia in inland Africa to coastal export ports. It is also engaged in Customs clearance, warehouse operations, cargo handling at ports and logistics DX (digital transformation) services, and has a fleet of about 450 trucks.
Through this capital participation, MOL and Alistair will merge the MOL Group’s global network and expertise in shipping and logistics with Alistair’s expertise in cross-border logistics in Southeast Africa. This will enable both groups to offer a wider range of high-quality logistics services to customers in Africa, a region where MOL anticipates significant growth and new business opportunities, said a release.
Source: Exim News Service: TOKYO, June 27