Doha: Gulf Warehousing Company (GWC) announced Thursday a strategic investment in ANCLA Logistik GmbH, a privately held company headquartered in Wetzlar, Germany.

According to Qatar News Agency, under the terms of the transaction, GWC is in the process of acquiring a 16.15 percent equity stake in ANCLA Logistik GmbH for a total consideration of 8.2 million Euros, funded entirely from the Group’s internal resources.

The transaction is under process only, and upon completion, GWC will disclose separately, and no material financial impact is expected on the group’s results for the current financial year. The investment has been recognized as a noncontrolling interest in accordance with International Financial Reporting Standards (IFRS).

This strategic investment is aligned with GWC’s long-term growth objectives and its commitment to expanding its presence and partnerships in key international markets.