HomeBanking & FinanceKuwait’s Agility to buy Scottish John Menzies
By Economy Middle East
March 31, 2022 5:46 am

Kuwait’s Agility to buy Scottish John Menzies

Shareholders to receive 608 pence in cash per share

Kuwait’s Agility Public Warehousing Company agreed to acquire Scottish “John Menzies Plc”, the holding company of “Menzies Aviation Plc” Company for 608 pence a share.

According to Bloomberg, the takeover offer estimated Menzies’ market value at about 571 million pounds sterling.

The Scotland-based Board of Menzies recommended shareholders to approve the offer made by “Agility” in conjunction with the National Aviation Services Company (NAS), after raising the price, which was initially 460 pence per share, according to a statement issued by the Scottish company.