Dubai: Abu Dhabi investment company ADQ has acquired nearly 22 per cent in the issued share capital of Aramex, the logistics company listed on Dubai Financial Market.
The deal 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," said Murtaza Hussain, acting Chief Investment Officer, M&A and Alternative Investments at ADQ. "Despite the challenging market conditions, we are confident that Aramex has the right approach to continue building on its leadership position in the industry and enhances Abu Dhabi’s efforts to be a key player in international trade and logistics.
"With the surge in e-commerce demand this year, their on-the-ground operations and last mile capacity is an important growth area.”
The shares were acquired through a series of on-market transactions and through an off-market special deal.