Abu Dhabi Ports now owns more than 22 percent stake in the Dubai-based courier giant Aramex.
The subsidiary of Abu Dhabi Developmental Holding Company (ADQ) had received the shares representing 22.3225 percent of the logistics firm’s capital from Alpha Oryx Limited on January 19, 2022, Aramex told the Dubai Financial Market (DFM).
“The stake of Abu Dhabi Ports Company has, as a result, increased from 0 percent to 22.3225 percent,” Aramex said.
Both Abu Dhabi Ports and Alpha Oryx are affiliated to Abu Dhabi-backed ADQ, one of the region’s largest holding companies.
Last September 2020, Alpha Oryx became one of the largest shareholders in Aramex after acquiring about 22 percent stake in the courier firm.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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