The Danish group A.P. Moller Capital, the fund management company of Denmark’s A.P. Moller group, is strengthening its position in Morocco by acquiring a majority stake in Globex Investissement, a Casablanca-based logistics company. The transaction was announced on Monday, 17 August 2026, in a joint statement by the two companies and is being carried out through two investment vehicles managed by A.P. Moller Capital: the Emerging Markets Infrastructure Fund II (EMIF II) and the Apm Capital Morocco Fund. The price and the exact percentage of the share capital acquired have not been disclosed. The acquiring funds will work alongside Globex founder and chief executive Omar El Kadiri, who will continue to lead the company with the current management team, ensuring strategic continuity in the growth phase opened by the new ownership structure. Final completion of the transaction remains subject to customary conditions precedent, including antitrust clearance from the Moroccan Competition Council.
Founded in Casablanca in 1998, Globex operates in express courier services, road haulage, international freight forwarding and customs services, supported by exclusive licensing agreements in the local market. The company also operates the FedEx Express brand under franchise in Morocco, Senegal and Cameroon, serving more than 220 countries through this network, and now employs more than 350 people. Globex is not new to external investors in Morocco. In late 2022, French private equity manager Amethis became a minority shareholder, acquiring 30.5% of Global Express Courrier, Globex’s corporate name, to support the group’s expansion in Morocco and sub-Saharan Africa. In 2024, the El Kadiri group, through the holding company Goldfin Holding, acquired 100% of Logic Transport and its subsidiary Logic Overseas.
The deal forms part of A.P. Moller Capital’s broader commitment to Morocco. On 18 February 2026, the Danish company announced the final close of the Apm Capital Morocco Fund, a vehicle dedicated to the country’s transport and logistics sector and launched as part of an initiative by Mohammed VI Investment Fund, the Moroccan sovereign fund, with the participation of both local and international institutional investors. The fund secured commitments of 1.64 billion dirhams, about $178 million, alongside a 600 million dirham, about $65 million, co-investment from EMIF II, giving it a total allocation of 2.24 billion dirhams, about $243 million, for investments in transport and logistics in Morocco.
The fund, managed by Apm Capital Morocco S.A. under the leadership of chief executive Ghislane Guedira, identified international express logistics, third-party logistics, air transport management and temperature-controlled storage as priority areas, all segments in which Globex operates directly. The transaction is also intended to support Globex’s decarbonisation pathway, as the company aims to become a benchmark operator in green logistics in Morocco through a plan that includes solar-powered hubs, the introduction of an electric fleet and CO2 emissions reporting tools within a structured environmental, social and governance framework.
Antonio Illariuzzi
