Kuwait’s Agility more than doubles credit lines to $3.2bn to fund John Menzies buyout – The National

Kuwait’s Agility more than doubles credit lines to $3.2bn to fund John Menzies buyout – The National

Kuwait-based Agility, one of the largest logistics companies in the Mena region, is refinancing and more than doubling its credit lines to fund the acquisition of UK-based John Menzies and drive other growth plans.

The company is raising its credit lines with existing and new local, regional and international banks to $3.2 billion, from $1.4bn, Agility said in a bourse filing to the Dubai Financial Market on Monday.

The credit lines have maturities of three, five and six years.