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Maersk expands logistics services in Africa
Photo: Maersk
After a long time of cooperation in South Africa and beyond, Grindrod and Maersk are extending their partnership concerning Grindrod Intermodal' logistics services and Ocean Africa Container Lines (OACL)'s maritime operations.
Maersk will dominate the newly formed "joint venture" with a share of 51%. The over 100 years old Grindrod Group in South Africa will give up its independence. Xolani Mbambo, CEO of Grindrod freight services customers, will report to Jonathan Horn, Maersk Southern Africa and Islands area managing director.
The details of the transaction, which is subject to regulatory approvals, including required competition law approvals, were not disclosed. (sh)