ADQ Acquires 22% Share in Region's Logistics Leader Aramex
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% of the issued share capital of Aramex.
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."
The shares were acquired through a series of on-market transactions and through an off-market special deal.