German billionaire purchases Turkish logistics company
by Daily Sabah
ISTANBULMar 17, 2017 - 12:00 am GMT+3
by Daily Sabah
Mar 17, 2017 12:00 am
Although the political tension between Turkey and the Netherlands has deepened with the help of Germany, the leader of the European Union's economy, the decisions of the countries' companies do not seem to parallel the economy. The best example of this has come from Germany.
According to Dünya daily, Kühne-Nagel, one of the largest logistics companies in the world, has made an important decision in the wake of the political tension with Germany. The Swiss-based German company has made an important purchase in Turkey and has begun negotiations to include the Turkish logistics company Zet Farma under its operations. The parties have made applications to official institutions, and Kühne-Nagel aims to buy a 100 percent share in the Istanbul-based Zet Farma company.
Founded in 1992 by Ahmet Saim Başay and Satiye Başay, Zet Farma has approximately 400 employees. Among the customers of Zet Farma, one of the most influential logistics companies in the pharmaceutical sector, are several important pharmaceutical companies, including Abdi İbrahim and Mustafa Nevzat. Including the city's Kağıthane, Hadımköy and Kıraç regions, the company has six warehouses across Istanbul.
One of Germany's oldest logistics companies, Kühne-Nagel was founded by August Kühne and Friedrich Nagel in Bremen in 1890. Headquartered in Switzerland, the company still manages its operations from Germany. With 1,200 offices in more than 100 countries around the world, Kühne-Nagel has over 70,000 employees.
Listed among the largest companies in the world in maritime transport, the firm is also one of the most important companies in air and land transport. The company's honorary president and the biggest shareholder, Klaus-Micheal Kühne, is one of Germany's richest businessmen, with a fortune of $12.4 billion. The ninth wealthiest businessman in the country, Kühne ranks 103rd in Forbes' world league. The German businessman has around a 53 percent share in Kühne-Nagel.