Abu Dhabi’s ADQ plans to launch takeover of courier firm Aramex

ADQ, the smallest of Abu Dhabi’s three sovereign wealth funds, plans to launch a cash takeover offer for Aramex, as the fund seeks to acquire the shares in the Dubai-listed courier company that it does not already own.

“Aramex has been notified by Q Logistics Holding, a wholly-owned indirect subsidiary of ADQ, of its intention to submit a voluntary conditional cash offer to acquire all of its outstanding shares,” Aramex said in a bourse filing on Monday.

Q Logistics has set the takeover bid price at $0.82 (Dhs3) per share, representing a 33 per cent premium over Aramex‘s closing price on Thursday.

ADQ-owned AD Ports Group already holds a 22.7 per cent stake in Aramex.

The logistics firm’s net profit jumped by 177 per cent year-on-year (YoY) to Dhs27m in Q3 2024 from Dhs9.6m for the same period a year earlier, while its revenues rose by 18 per cent to reach Dhs1.59bn.

Founded in 1982, Aramex became the first Arab-based company to list on Nasdaq. The logistics firm is one of the Middle East’s earliest successful business stories and has long been viewed as the regional answer to global shipping companies such as FedEx and DHL.

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