ADQ completes acquisition of majority stake in Aramex

Al Etihad

2 days ago

27 July 2025 20:32
A. SREENIVASA REDDY (ABU DHABI)ADQ, an active sovereign investor focused on critical infrastructure and global supply chains, has completed the acquisition of a majority stake in Aramex.In a statement, ADQ said the voluntary tender offer for Aramex, submitted by its wholly owned indirect subsidiary Q Logistics Holding, has become unconditional.ADQ will now become the majority shareholder in Aramex, with a 63.16% stake when combined with the shareholding held by AD Ports Group, in which ADQ holds a majority stake.The latest acquisition is confirmed by the Dubai Financial Market's records.Updated data shows Q Logistics Holding holds 40.4492%, GeoPost SA 28%, and Abu Dhabi Ports Company 22.69%. The remaining 8.9% is held possibly by retail investors and smaller institutions.ADQ had initially aimed to acquire 100% of Aramex and potentially delist the company from the Dubai Financial Market. However, it secured voluntary acceptance from only 40.44% of shareholders. An FAQ published at the time of the offer stated, 'If you decide not to participate in the offer, you will be entitled to keep your shares. To the extent the offeror obtains 90% plus 1 share of the total share capital of Aramex, then the offeror is entitled to apply for the compulsory acquisition of the remaining securities held by minority shareholders.' As this threshold was not met, several shareholders, including GeoPost SA, which holds 28%, retained their shares.GeoPost, a subsidiary of France's La Poste, became a shareholder in Aramex in 2021, initially acquiring a 24.9% stake and later increasing it to 28% in 2022, according to information available on Aramex's website.Q Logistics announced its intention to acquire up to 100% of Aramex shares not held by Abu Dhabi Ports on January 13, 2025. The Securities and Commodities Authority approved the offer document on February 9, and Aramex disclosed its receipt to the market the following day.On February 11, Aramex's board reviewed the offer and HSBC's fairness opinion, which deemed the offer financially fair, and recommended that shareholders accept. A formal circular with these details was published on February 13. The offer was priced at Dh3 per share and open for acceptance from February 10 to March 24.On March 28, Aramex announced it had received final confirmation from ADQ that Q Logistics had secured acceptances amounting to 40.57%. When combined with the 22.69% held by AD Ports, this brought ADQ's total effective ownership to 63.26%, exceeding the minimum threshold set by SCA's Mergers and Acquisitions Rules. The offer became unconditional on July 22, 2025, following receipt of all regulatory approvals and waivers.ADQ said Aramex will be integrated into its Transport & Logistics cluster, reinforcing Abu Dhabi's position as a global logistics hub. With operations in over 65 countries and significant warehousing and trucking capacity, Aramex is expected to strengthen ADQ's multimodal logistics platform.
ADQ Deputy Group CEO, Mansour AlMulla, said, '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.'