Danish Fund Buys Control of Moroccan Logistics Leader Globex
Morocco · LOGISTICS & INVESTMENT
Key Facts
- —Deal Two A.P. Moller Capital funds signed an agreement on 17 August to buy a majority stake in Globex Investissement, a leading Moroccan logistics company. The price and the size of the stake were not disclosed.
- —Target Casablanca-based Globex was founded in 1998 as the exclusive FedEx Express licensee in Morocco and employs more than 350 people.
- —Continuity Founder and chief executive Omar El Kadiri will stay on, leading the business with his existing management team.
- —Hurdle Completion needs merger-control clearance from Morocco’s Competition Council.
The investment arm of the Danish group behind Maersk is buying control of Morocco’s best-known independent logistics network, six months after setting up a dedicated Moroccan fund.
A.P. Moller Capital said on 17 August that two of its funds had signed an agreement to acquire a majority stake in Globex Investissement, a leading Moroccan logistics company. Neither the size of the stake nor the price was disclosed.
The deal is the first big move by a Morocco-only fund the Danish investor set up in February. It lands as the country consolidates its position as North Africa’s main logistics hub.
What was agreed
The buyers are the Emerging Markets Infrastructure Fund II, known as EMIF II, and the APM Capital Morocco Fund. Together they will take the majority holding and form a partnership with Omar El Kadiri, Globex’s founder and chief executive, who stays in place.
Completion is subject to the usual conditions, including merger-control clearance by the Moroccan Competition Council. Until that lands, the acquisition is agreed but not closed.
Kim Fejfer, the chief executive of A.P. Moller Capital, said the investment aligns directly with the firm’s core sector and geographic focus. He called Morocco a market that is rapidly developing into the leading North African logistics hub, supported by strong economic tailwinds.
What Globex actually does
Globex was founded in Casablanca in 1998 as the exclusive FedEx Express licensee in Morocco. That means it runs the American courier’s brand, pickups and deliveries in the country under licence.
The company now employs more than 350 people and works across express delivery, road freight, freight forwarding, customs brokerage and warehousing. It also holds FedEx and TNT licences in Senegal and Cameroon, and uses the FedEx network to serve more than 220 countries.
The private equity firm Amethis bought a 30.5 per cent stake in 2022 to fund expansion in Morocco and sub-Saharan Africa. A.P. Moller Capital did not say whether Amethis will sell as part of the new transaction.
Who the buyer is
A.P. Moller Capital is a Copenhagen-based institutional fund manager within A.P. Moller Holding, the Møller family holding company that also controls the shipping group A.P. Moller-Maersk. It manages infrastructure funds focused on transportation, logistics and the energy transition in emerging markets.
Its Moroccan arm, APM Capital Morocco S.A., is regulated by the country’s capital-market authority, the AMMC, and led by chief executive Ghislane Guedira. She said the combination of the Danish firm’s sector heritage and Globex’s management team would strengthen the company’s market position.
A fund raised just for this
The APM Capital Morocco Fund was established in February 2026, backed by leading Moroccan institutional investors. Its mandate is transport and logistics, with a pipeline spanning international express, third-party logistics, air cargo handling and cold storage.
The fund raised 1.6 billion dirhams (about US$178 million) in commitments, and EMIF II committed a further 600 million dirhams (about US$65 million) alongside it. That gives the two vehicles 2.2 billion dirhams (about US$243 million) to deploy, at roughly nine dirhams to the dollar.
Why Morocco, why now
The anchor is Tanger Med, the port complex on the Strait of Gibraltar that is the largest in Africa and the Mediterranean. Its four container terminals handled more than 11.1 million containers in 2025, up 8.4 per cent on the year, and 161 million tonnes of cargo overall.
A second Mediterranean deep-sea port, Nador West Med, is due to start operating in the last quarter of this year. Between them, the ports feed the automotive plants, run by Renault and Stellantis, that have made vehicles Morocco’s biggest export.
Under its new owners, Globex is meant to become a green logistics leader, with solar-powered hubs, an electric fleet and carbon reporting tools. The seller side is moving too: A.P. Moller Capital has separately agreed to sell its 49 per cent of grain-terminal operator Mass Céréales al Maghreb to the investors STOA and Africa50.
What to watch
The first marker is the Competition Council’s clearance, the only named obstacle between signing and completion. The second is whether Amethis stays in the shareholding or exits.
Beyond that, the fund’s own pipeline suggests more Moroccan deals in cold storage and air cargo. For a country selling itself as the logistics doorway between Europe and Africa, Danish money arriving at this scale is itself the story.
Frequently Asked Questions
Is A.P. Moller Capital part of Maersk?
Not directly. It is the fund-management arm of A.P. Moller Holding, the family holding company that also controls the Maersk shipping group, so the two are sister businesses under the same owner.
How much is the Globex deal worth?
The price and the exact stake were not disclosed. The two buying funds hold about US$243 million in committed capital between them.
What does Globex do?
It is FedEx’s exclusive express licensee in Morocco, and also works in road freight, freight forwarding, customs brokerage and warehousing. It holds FedEx and TNT licences in Senegal and Cameroon as well.
What still needs to happen before completion?
The deal needs merger-control clearance from Morocco’s Competition Council, plus other customary conditions. Founder Omar El Kadiri stays on as chief executive either way.
Connected Coverage
Sources
- globenewswire.com (A.P. Moller Capital press release)
- northafricapost.com
- Splash maritime news
- enterpriseam.com
- logisticsbusiness.com
- marinelink.com (Reuters)
- moroccoworldnews.com
- accuracy.com
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
Part of our ongoing coverage
Africa: The New Scramble — the great-power contest over the continent.
Read More from The Rio Times