Kuwait’s Agility signs new credit facility of $1.42bn to fund John Menzies buyout – The National

Kuwait’s Agility signs new credit facility of $1.42bn to fund John Menzies buyout – The National

Kuwait-based Agility, one of the largest logistics companies in the Mena region, has signed a new credit facility of €1.4 billion ($1.42bn) to fund the acquisition of UK-based John Menzies and other growth plans.

The company also expects to sign two replacement facilities in the coming week and add a further €400 million of facilities to replace an existing short-term loan, it said in a filing to the Boursa Kuwait on Sunday.

"These will be used to finance the company's growth plans, including the long-term financing of the John Menzies Plc acquisition," Agility said, without identifying the banks.