Aramex confirms Australia Post buys 4.5pc stake
DUBAI, August 9, 2016
Australia Post has bought a 4.5 percent 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 A$100 million ($76 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 percent stake in Aramex, which involved the divestment of founder Fadi Ghandour's remaining 9.9 percent shareholding. - Reuters