Agility says part of group in $50 bn deal

KUWAIT: Kuwaiti logistics provider Agility said on Saturday it was part of a group with U.S. firm Dyncorp International which won a $50 billion deal from the U.S. military. Agility shares rallied 6.6 percent after the news. Agility said in a statement on the Kuwait bourse web site it would provide various logistics, supply and warehousing services as part of the deal.

The contract would run 10 years, of which 9 were optional, and would have a value of $50 billion for the whole period, it added. The deal, which included food and oil supply servives, would be worth $5 billion for each year. Agility, which is diversifying its business and expanding abroad, said it could currently not determine its exact share of the deal.