DUBAI, Jan 21 (Reuters) - Aramex has acquired Fastway Couriers' New Zealand and Australian business for NZ$125.28 million ($80.59 million), the Dubai-based logistics company said in a filing to the exchange on Thursday.
The transaction comes a day after Aramex announced it had acquired a 25 per cent stake in WS One General Trading, a UAE cross-border parcel consolidation service, for 9 million UAE dirham ($2.45 million).
In October, Aramex Chief Executive Hussein Hachem said the company has several acquisitions in the pipeline and is expecting to close deals valued in the range of $150 million in the next two quarters.
Fastway Couriers has more than 250 franchise partners in New Zealand and 800 in Australia, according to the statement.
($1 = 1.5547 New Zealand dollars)
($1 = 3.6726 UAE dirham)
(Reporting by Hadeel Al Sayegh; Editing by Biju Dwarakanath) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))
Keywords: FASTWAY COURIERS M&A/ARAMEX
The transaction comes a day after Aramex announced it had acquired a 25 per cent stake in WS One General Trading, a UAE cross-border parcel consolidation service, for 9 million UAE dirham ($2.45 million).
In October, Aramex Chief Executive Hussein Hachem said the company has several acquisitions in the pipeline and is expecting to close deals valued in the range of $150 million in the next two quarters.
Fastway Couriers has more than 250 franchise partners in New Zealand and 800 in Australia, according to the statement.
($1 = 1.5547 New Zealand dollars)
($1 = 3.6726 UAE dirham)
(Reporting by Hadeel Al Sayegh; Editing by Biju Dwarakanath) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))
Keywords: FASTWAY COURIERS M&A/ARAMEX
