Budget Saudi finally signs franchise agreement with Barloworld
Budget Saudi’s (4260.SE) subsidiary Al-Jouzour Al-Rasikha Limited Transport (Rahaal) has signed an exclusive five-year renewable franchise agreement with Barloworld Logistics on 30 May 2016. The contract allows Rahaal to offer logistics services in the transport sector within Saudi Arabia under the trademark Barloworld Global Logistics Services. Budget Saudi expects a positive impact from the contract as of 2017. The two companies had first signed a joint venture agreement in November 2012. (Company disclosure) Budget Saudi: SAR35.10 as of 30 May 2016, Rating: Buy, FV: SAR52.00 per share, MCap: USD571 million, BUDGET AB / 4260.SE
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