November 12 - According to a statement issued by Borusan Logistics, it has agreed a deal to acquire Balnak Lojistik, and says this will create Turkey's leading logistics service provider in terms of staff numbers and revenues.

After the acquisition is completed, subject to the approval of the country's competition authorities, Borusan Logistics' sales for 2012 will grow to around USD600.0 million, with over 4,000 employees serving 10,000 clients.

Balnak Lojistik had previously sold 46.0 perecent of its shares to Great Circle Capital in 2007, whilst the balance remained with the company founder, Lütfi Aygüler.

The transaction price was not disclosed. The new, enlarged company has set itself a target of reaching turnover of USD1.0 billion by 2015.