Australia Post buys stake in Aramex for A$100m
Aramex said in June it would form a joint venture with Australia Post
Dubai: Courier company Australia Post has bought a 4.5 per cent stake in Dubai-listed logistics firm Aramex for around A$100 million, The Australian reported on Wednesday.
Aramex did not confirm or deny the report when contacted by Gulf News.
In June, Aramex said that it would form a joint venture with Australia Post, acquiring the company’s StarTrack International global e-commerce postal solutions business, as it targets the global e-commerce market, with a particular focus on Asia.
On Sunday, Fadi Ghandour, the founder of Aramex, sold all of his holdings in Levant Logistics Holdings, which owns 144.9 million shares in Aramex or 9.9 per cent of Aramex shares, to Boson Ventures Corporation, a firm in the Cayman Islands that provides seed funding.
