22.01.2019
Artikel Nummer: 26057
International business of Flying Cargo acquired
After nearly 30 years of close cooperation in the provision of international express transport services to the Israeli market, Fedex Express and Flying Cargo Group (FCG) have reached a conditional agreement under which the US integrator will acquire FCG’s international express business in Israel.
The announcement comes as Flying Cargo’s service agreement with Fedex Express is coming to an end. FCG provides, inter alia, logistics, warehousing, fulfilment, goods distribution, returns and e-commerce, as well as domestic collection and delivery services in Israel; it will continue to own and manage these activities.
The acquisition is anticipated to close in H1/2019 and is subject to regulatory approval. (mw)