Abu Dhabi-based private limited company Alpha Oryx has transferred a 22.32 percent stake in the multinational logistics, courier, and package delivery company Aramex to Abu Dhabi Ports Group.
According to the statement, “ADQ, one of the region’s biggest holding companies, took the stake in Aramex in September, building on its portfolio of strategic investments.” Alpha purchased the shares through a series of on-market transactions and an off-market special deal.
The Middle East’s largest courier company, is now controlled by ADQ’s subsidiary Abu Dhabi Ports Group, which did not previously own shares in the company, Alpha Oryx said in a statement to Dubai Financial Market (DFM).
At the time of the acquisition, ADQ’s Acting Chief Investment Officer for M&A and Alternative Investments Mr. Murtaza Hussain stated that “Aramex is a global leader in logistics and transportation, and will complement our logistics investments including Abu Dhabi Ports, Abu Dhabi Airport, and Etihad Rail as we work to expand the logistics ecosystem in the UAE.”
In October, French parcel delivery company GeoPost, a holding company owned by Le Groupe La Poste, bought a 20.15 percent stake in Aramex. The acquisition of 295 million shares was valued at $381 million (Dh1.4 billion), according to the reports.
Last year, Aramex launched a new express courier handling facility at King Khalid International Airport (KKIA) in Riyadh, in line with its Saudi expansion plans. The facility is equipped with the latest automated parcel sorting systems with a capacity to handle up to 100,000 shipments per day.