Mitsui O S K Lines : 2024/06/27 MOL to Take Equity Stake in Alistair Group, A Leading Logistics Company in Sub Saharan Africa Strengthening Logistics Services in Africa

June 27, 2024

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it has agreed to acquire a 25% stake in Tanzania-based Alistair Group (President: Alistair James), a cross-border logistics company serving Sub-Saharan Africa.

Alistair trucks (above); cargo handling operations at the port

Alistair Group has offices in eight countries in Southeast Africa. Its business centers on cross-border logistics services for truck transport of copper, cobalt, and other critical mineral resources produced in the Democratic Republic of Congo and Zambia in inland Africa to coastal export ports. It is also engaged in customs clearance, warehouse operations, cargo handling at ports, and logistics DX (digital transformation) services and has a fleet of about 450 trucks and about 1,000 employees.

MOL was the first Japanese shipping company to establish a shipping route between Japan and the east coast of Africa in 1926 and has been offering marine transport service to and from Africa for nearly 100 years. With offices in South Africa, Mozambique, Kenya, and Mauritius, MOL is proactively developing various businesses on a group-wide scale, including not only ocean freight forwarding but also air freight forwarding, land transport, warehousing, and the export of used Japanese agricultural machinery (Note 1).

MOL has positioned portfolio and regional strategies as core strategies of the MOL Group's "BLUE ACTION 2035" management plan and is pursuing the development and expansion of new non-shipping businesses as well, such as logistics, in emerging regions. Through this capital participation, MOL and Alistair will merge the MOL Group's global network and expertise in shipping and logistics with Alistair's expertise in cross-border logistics in Southeast Africa. This will enable both groups to offer a wider range of high-quality logistics services to customers in Africa, a region where MOL anticipates significant growth and new business opportunities due to increasing population and abundant resources, including renewal energy potential.

MOL Senior Managing Executive Officer Toshinobu Shinoda, who is responsible for Europe and Africa, commented, "Since its founding in 2008, Alistair has repeatedly made creative efforts to thoroughly meet customer needs, through streamlined operation routes, highly IT-enabled information and payment systems, equipment and machinery quality management, and business operations run by an outstanding management staff. As a result, Alistair has grown into a leading regional mining and infrastructure logistics company. We at MOL look forward to increasing our presence in Africa, which offers tremendous potential, and we are extremely proud to have Alistair as a robust partner with whom we can share values."

Alistair Group CEO, Alistair James, commented: "We've set an ambitious vision and are taking decisive steps to solidify our position as the leading logistics provider across the African continent. We look forward to continuing to fund the growth of our core business while also investing further in our cutting-edge technology and regional infrastructure developments. Alistair Group is thrilled to be partnering with MOL for the benefit of both businesses. The investment offers us a significant competitive edge and presents an opportunity to seamlessly integrate ocean and cross-border shipping, meeting the exacting demands of our customers. In essence, this partnership is set to propel our growth to new heights."

[Outline of Alistair]

Name	AHC Holdings Ltd
Main business	Trucking, Warehouse Operations, Customs Clearance, Port Logistics, etc.
Founded	2008
Head Office	Mauritius
Offices	South Africa, Tanzania, Zambia, Democratic Republic of Congo, Mozambique, Namibia, Uganda (see map below)
Representative	Alistair James (CEO)
Website	https://www.alistairgroup.com/

(Note 1) MOL Shipping (Kenya) Ltd., a local subsidiary of MOL, and the Nairobi branch of an MOL Group company MOL Logistics Co., Ltd. (MLG), are engaged in forwarding of ocean and air freight to/from Africa. In May 2023, MOL Group teamed up with GCS Velogic, a major logistics company serving East Africa and jointly offering total logistics services including forwarding, customs clearance, warehouse management, and land transportation in Kenya and neighboring countries. In July 2023, the MOL Group launched its first warehouse operation in Africa and began operating a warehouse in Nairobi, the MOL Group's first in Africa. In January 2024, MOL Group company MLG signed an MoU on a strategic alliance with Revital Healthcare (EPZ), Kenya's leading medical supplies manufacturer, with an eye toward the establishment of a healthcare logistics center in the Mombasa Special Economic Zone.

MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision.
We anticipate this initiative to contribute especially to the realization "Safety & Value -Provide added value through safe transportation and our social infrastructure business-", "Environment -Conservation for Marine and global environment-" and "Human & Community -Contributing to the growth and development of people and communities-".