{"id":84762,"date":"2025-02-26T00:00:00","date_gmt":"2025-02-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/02\/26\/e-sells-stake-in-khazna-mgx-buys-in\/"},"modified":"2025-02-26T00:00:00","modified_gmt":"2025-02-26T00:00:00","slug":"e-sells-stake-in-khazna-mgx-buys-in","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/02\/26\/e-sells-stake-in-khazna-mgx-buys-in\/","title":{"rendered":"e& sells stake in Khazna + MGX buys in"},"content":{"rendered":"

<\/strong>UAE\u2019s e& sells Khazna stake for USD 2.2 bn:<\/strong> Telecom company e&\u2019s board signed a binding agreement to divest its 40% stake in Khazna Data Centers<\/a> for a value of USD 2.2 bn with Khazna\u2019s majority shareholder AI company G42, according to a statement (pdf)<\/a>. The proceeds \u2014 estimated at USD 1.4 bn before tax \u2014 will reduce e&\u2019s debt and strengthen its credit profile. The sale is expected to be finalized before 1H concludes.<\/p>\n

Who\u2019s in so far?<\/strong> Abu Dhabi\u2019s AI fund MGX and private equity firm Silver Lake now own minority stakes in the company, alongside majority shareholder G42, the company confirmed in a LinkedIn post<\/a>. No details were disclosed on the size of the two companies\u2019 new stake. <\/p>\n

Not completely out: <\/strong>The telecoms giant will continue to be a \u201cstrategic partner\u201d and a major tenant of Khazna\u2019s services, the statement said.<\/p>\n

Background: <\/strong>In 2022 e& acquired the 40% equity stake in the data center designer and operator, which has ambitions to develop the UAE\u2019s largest data center<\/a> in Ajman with a 100 MW capacity.<\/p>\n

\n

IN OTHER REGIONAL M&A NEWS-<\/p>\n

DHL eCommerce snapped up an undisclosed minority stake in Saudi parcel logistics player Ajex<\/strong>, according to a press release<\/a>. The move comes in a bid to support DHL eCommerce\u2019s \u201cexpansion into the rapidly growing Saudi Arabian e-commerce parcel market,\u201d the statement said. DHL eCommerce has also locked in an option to upgrade its holdings in Ajex to a majority stake. No financial ticket or timeline for the transaction were disclosed.<\/p>\n

Ajex\u2019s recent regional moves: <\/strong>Ajex teamed up<\/a> with UK-based aircraft charter and aviation support firm Chapman Freeborn to boost aviation and cargo services across Saudi Arabia earlier this year. The company clinched storage space<\/a> in nearby Bahrain last year, as well as partnered with Turkish Airlines subsidiary logistics firm Widect<\/a> to cooperate on e-commerce shipping and last-mile solutions.<\/p>\n

About Ajex:<\/strong> Active since 2021, the outfit offers warehousing, cold chain logistics, and healthcare solutions, while also offering express distribution, e-commerce, and multi-modal freight services. Ajax operates in Saudi Arabia, UAE, Bahrain, US, UK, Turkey, South Africa, and China, with upwards of 50 facilities, 900 vehicles, and a 1.5k-person team.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: DHL acquires minority stake in KSA\u2019s Ajex<\/p>\n","protected":false},"author":1,"featured_media":84763,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[941],"tags":[110,230,137,31,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-data-centers","tag-dhl","tag-ma-watch","tag-saudi-arabia","tag-uae","wpautop","entry"],"acf":{"mongo_id":"2605952f-8c36-4188-9ad9-5dbd3314ff4c","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2489.jpg","photo_position":"above","homepage_title":"","full_issue_title":"e& sells stake in Khazna + MGX buys in","related_issue":[84757],"teaser":"PLUS: DHL acquires minority stake in KSA\u2019s Ajex","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.ff4f6566-c53a-4b0d-9347-51e31c8d809a.mp3"},"yoast_head":"\ne& sells stake in Khazna + MGX buys in - 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