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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




Tags: Dubai | Aramex |

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