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Dubai: The acquisition of Gazeley Ltd by Economic Zones World (EZW), a Dubai World company, has received European regulatory approval, which completes the integration of these two logistics infrastructure businesses.
The announcement was made on Thursday.
EZW has acquired Gazeley, the Wal-Mart-owned global provider of sustainable logistics space, as part of its strategy to expand into global markets and deliver a robust global platform to support the dynamic and complex supply chains of its customers.
Target
The acquisition was driven by EZW's customer-centric strategy for global growth and the company's desire to strengthen its penetration of global markets through Gazeley's complementary fit, a statement said.
Salma Hareb, chief executive officer of Jafza and Economic Zones World, said: "We are delighted to have received formal regulatory approval and we are getting on with the business of bringing our two organisations together and unlocking the value which the combined strength of our operations will provide. We are looking forward to building on the excellent work, capability and experience of the combined EZW / Gazeley team and to offering our customers an even broader and higher quality of service."
EZW and Gazeley senior management teams are currently working on an integration strategy in order to determine the best approach for combining the two businesses and maximising commercial as well as customer benefits. EZW is the global developer and operator of economic zones, business and logistics parks under the Dubai World Group.
Plan
The company aims to create a robust infrastructure platform of industrial and logistics parks across the world with an objective to support the dynamic supply chain networks of its rapidly growing customer base.
EZW's current portfolio includes Jebel Ali Free Zone (Jafza), Dubai's flagship free zone operation, TechnoPark, a research driven business/ industrial park, Dubai Auto Zone, an industry specific free zone, and Jafza International, the overseas operations arm of the group.
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