Sharjah-based Tawseel Delivery Services sells 50% of shares

The food delivery service provider says it will be able to expand to new markets in the UAE
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Drivers of the food delivery service Eleme begin their morning shift after an internal security check in Beijing China September 21 2017  REUTERSThomas Peter
Drivers of the food delivery service Eleme begin their morning shift after an internal security check in Beijing China September 21 2017 REUTERSThomas Peter

Tawseel Delivery Services, a Sharjah-based food delivery service provider, has sold 50% of its shares to the UAE-based Fares Foundation for General Trading, which specialises in logistics distributions through land, air and sea.


The agreement should allow both firms to expand across the UAE, with Tawseel taking advantage of new markets and Fares increasing the number of its fleet of delivery drivers.


Tawseel founder and CEO Mohammed Al Musharakh said: “This acquisition is an acknowledgment of Tawseel’s commitment to excelling in delivery and logistics by attracting the expertise of the best in the field. We are confident that the move will develop our role and share in markets across UAE and the region. It is a qualitative move, which we hope to leverage to expand our access to global markets.”


The company also said in a statement that its fleet of vehicles contributed to decreasing the cost of delivery by more than 60%.

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