Dubai: Fadi Ghandour, the founder of Dubai-listed logistics firm Aramex, has sold all of his holdings in Levant Logistics Holdings to Boson Ventures Corporation, a firm in the Cayman Islands that provides seed funding, according to a statement on the Dubai Financial Market on Sunday.
Levant Logistics Holdings owns 144.9 million shares in Aramex or 9.9 per cent of Aramex shares.
The deal comes days after Jaona Investment bought a stake in Aramex for Dh437.6 million and about a week after Ghandour reportedly sold his 9.9 per cent stake to a group of Gulf investors including Emaar Properties chairman Mohammad Alabbar.
Aramex said last week that it recorded a 24 per cent growth in net profit for the first half of this year to Dh222.5 million. Revenues for the first six months of 2016 reached Dh2.1 billion, up 15 per cent compared to the same period in 2015.
