ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, announced it has acquired approximately 22 percent of the issued share capital of Aramex, a leading global provider of comprehensive logistics and transportation solutions.
Murtaza Hussain, Acting Chief Investment Officer, M&A and Alternative Investments at ADQ, said: “Aramex is a global leader in logistics and transportation, and will complement our logistics investments including Abu Dhabi Ports, Abu Dhabi Airport, and Etihad Rail as we work to expand the logistics ecosystem in the UAE.
"Despite the challenging market conditions, we are confident that Aramex has the right approach to continue building on its leadership position in the industry and enhances Abu Dhabi’s efforts to be a key player in international trade and logistics. With the surge in e-commerce demand this year, their on-the-ground operations and last mile capacity is an important growth area,” he said.
The shares were acquired through a series of on-market transactions and through an off-market special deal, ADQ said.
Headquartered in Abu Dhabi, ADQ was established in 2018 as a public joint stock company. It holds a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, including utilities, tourism and hospitality, aviation, transportation, logistics, industrial, real estate, media, healthcare, food and agriculture, and financial services.
As a strategic partner of the Government of Abu Dhabi, ADQ is committed to supporting the development of Abu Dhabi as a modern, competitive, prosperous and sustainable economy. - TradeArabia News Service