French express parcel firm Geopost acquires 20.15% stake in Dubai's Aramex

The French express logistics firm acquired about 295mln shares in Aramex

  
Traders react during the opening of the Dubai stock market June 26, 2016. Image used for illustrative purpose.

Traders react during the opening of the Dubai stock market June 26, 2016. Image used for illustrative purpose.

REUTERS/Ahmed Jadallah

DUBAI - GeoPost, the express parcel arm of French Groupe La Poste, has acquired a 20.15% stake in Dubai-listed courier firm Aramex, according to a regulatory filing on Wednesday.

The French express logistics firm acquired about 295 million shares in Aramex, valuing the deal at 1.4 billion dirhams ($381.18 million), a filing on the Dubai Financial Market showed.

($1 = 3.6728 UAE dirham)

(Reporting by Hadeel Al Sayegh, Editing by Louise Heavens) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))


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