Dubai's Aramex sells 4.5% stake to Australia Post for Dh279m

Alabbar-led investors bought about 16.45% stake earlier in logistics firms

Australia Post has bought a 4.5 per cent stake in Aramex, the Dubai-based logistics firm confirmed on Tuesday.

Aramex said it was confirming a statement by the Australian postal service's spokesperson last week. Australian media reported Australia Post had spent nearly 100 million Australian dollars ($76 million; Dh279 million).

It is the second significant purchase of Aramex shares by strategic investors in recent weeks; last month, sources said Dubai entrepreneur Mohamed Alabbar had led two investor groups in buying a combined 16.45 per cent stake in Aramex, which involved the divestment of founder Fadi Ghandour's remaining 9.9 per cent shareholding.   

 

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