Aramex PJSC (DFM:ARMX) has confirmed it is in talks with MNG Kargo for potential acquisition of the Turkish firm. In a notification to Dubai Financial Market (DFM), the stock exchange on which Aramex is listed, the company has confirmed that it is in talks with MNG Kargo. “With reference to what some media outlets have published recently regarding Aramex PJSC (the “Company”) entering into discussions to acquire (MNG Kargo (MNG Kargo), we would like to confirm to the market and shareholders that the company has recently entered into discussions with the shareholders of MNG Kargo for a potential acquisition. However, these discussions are still in their early stages as the Company is conducting its initial evaluation,” Othman Tarik Al-Jeda Chief Executive Officer said in a statement addressed to the DFM and the company's shareholders. Aramex said the Company’s final decision to acquire MNG Kargo is subject to satisfactory findings of the due diligence process, in addition to the company’s senior management and board of directors approval. “We would also like to note that the total value of this transaction has not yet been determined or agreed upon at this early stage. In compliance with the rules and regulations of the Dubai Financial Market and the disclosure and transparency rules, we will disclose all updates related to this transaction as soon as they become available,” said Tarik Al-Jeda.