Abu Dhabi Developmental Holding Company’s (ADQ) Alpha Oryx now owns 22.25 percent stake in courier giant Aramex.
The global provider of logistics and transportation solutions confirmed the acquisition on Monday.
The Abu Dhabi-backed holding company had earlier announced it had acquired the stake through a series of on-market transactions and an off-market special deal.
“We would like to confirm what was published in the news. Alpha Oryx Limited, a company related to Abu Dhabi Developmental Holding Company (ADQ), has recently acquired 22.25 percent of Aramex PJSC’s issued shares capital,” Aramex said.
ADQ’s acting chief investment officer for M&A and alternative investment, Murtaza Hussain had said that they are looking to expand the logistics ecosystem in the UAE.
“Aramex is a global leader in logistics and transportation, and will complement our logistics investments,” said Hussain.
(Reporting by Cleofe Maceda; editing by Seban Scaria)
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