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Abu Dhabi's ADQ to Fully Acquire Aramex

  • Publish date: since 19 hour
Abu Dhabi's ADQ to Fully Aquire Aramex

Abu Dhabi-based investment and holding company ADQ has offered to fully acquire the largest courier company in the Middle East Aramex in a deal that values that company at AED 4.39 billion (USD 1.2 billion).

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Abu Dhabi Ports currently owns a 22.69 percent stake in Aramex, which received a formal proposal from Q Logistics Holding, an ADQ subsidiary, to buy all its shares that are not controlled by ADP.

Abu Dhabi Ports is also majority-controlled by ADQ. 

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The intent letter posted on Dubai Financial Market revealed that Aramex shareholders will receive AED 3 per share, which is about a 33 percent premium on the courier company's closing price of AED 2.31 on Friday.

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Aramex shares surged by 15 percent to AED 2.65 on Monday, Jan. 13. It was the biggest intra-day rise since October 2023, according to Bloomberg data. 

ADQ has total assets worth $225 billion as of Jun. 30 and it has shareholdings in more than 25 companies across various sectors including energy, utilities, food and agriculture, health care, pharmaceuticals, mobility and logistics.

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