Tuesday, 02 January 2024 12:17 GMT

ADQ Completes Acquisition Of Majority Stake In Aramex


(MENAFN- Khaleej Times)

ADQ, an active sovereign investor focused on critical infrastructure and global supply chains, announced on Tuesday that it has completed its acquisition of logistics provider Aramex.

Adq said in a statement that the voluntary tender offer for Aramex, submitted by its wholly owned indirect subsidiary Q Logistics Holding LLC, has become unconditional.

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ADQ will now become the majority shareholder in Aramex, with an ownership of 63.16 per cent of shares when combined with the shareholding held by AD Ports Group, in which ADQ holds a majority stake.

This follows the receipt of all required antitrust and foreign direct investment regulatory approvals, as well as statutory exemptions and waivers from relevant governmental authorities within and outside the UAE, along with the satisfaction (or waiver) of all other conditions to the offer.

The acquisition of a controlling stake in Aramex strengthens ADQ's position in the services layer of the logistics ecosystem, which includes express delivery, freight forwarding, third-party logistics, and warehousing. These functions are critical to enabling seamless trade flows and linking transport infrastructure to end users.

With operations in over 65 countries, a leading trucking network in the GCC, and 800,000 sqm of global warehousing, Aramex brings scale, capabilities, and geographic reach. Its integration into ADQ's portfolio accelerates the development of a fully integrated, multimodal logistics platform that supports regional trade and economic growth.

Mansour AlMulla, Deputy Group Chief Executive Officer of ADQ, commented:“ADQ's majority shareholding in Aramex marks a strategic step toward advancing our vision to build a globally integrated logistics platform anchored in the UAE. Aramex brings strong capabilities and operational depth that complement our existing investments across air, sea, and land infrastructure. Its addition enhances the services layer of the logistics value chain and supports the development of end-to-end trade and supply chain solutions. We believe Aramex is well positioned to unlock long-term value through greater integration with ADQ's broader portfolio, and we are confident in its ability to deliver sustainable growth.”

Aramex will become part of ADQ's Transport & Logistics cluster, which plays a central role in advancing multimodal connectivity and reinforcing Abu Dhabi's position as a global transport and logistics hub.

The payment of consideration to Aramex Shareholders is to take place on July 25, and Aramex Shares will be registered in the name of Q Logistics Holding LLC the same day.

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