ALLCARGO LOGISTICS LTD. Acquires Additional 23.50% Stake in Ecu-Line Abu Dhabi LLC for AED 500,000

ALLCARGO LOGISTICS LTD. has announced that its wholly owned subsidiary, Ecuhold N.V., has acquired an additional 23.50% stake in Ecu-Line Abu Dhabi LLC. The acquisition was made for a consideration of AED 500,000, and it increases Ecuhold N.V.'s stake in Ecu-Line Abu Dhabi LLC to 99%. This is not a related party transaction and the company is into NVOCC business, which is in line with the group’s business. The last 3 years turnover of Ecu-Line Abu Dhabi LLC is as follows: 2024 Turnover: 4,486,118 USD, 2023 Turnover: 2,623,978 USD, 2022 Turnover: 1,885,938 USD. The acquisition is completed on December 27, 2024.