Adq holds Aramex's acquisition of $ 1.2 billion

Aramex said it had received an offer to obtain his entire shares through the UAE Holding Holding Company “Adq”, which is one of the sovereign Abu Dhabi funds, according to Monday’s announcement. The company listed in the “financial market of Dubai” said it will discuss the agreement, which assesses the total shares of about 4.39 billion Dirhams ($ 1.2 billion), at a meeting held next Wednesday. Adq Holding offered the offer through its subsidiary, ‘Qi Logistics Holding’, to buy all Aramex shares, with the exception of the share owned by the Abu Dhabi Ports Company, which is also controlled by ‘Holding’ and has 22.69% of the company’s shares. According to the disclosure, shareholders from Aramex 3 Dirhams per share, which is higher than the company’s shares during the last trading session last week closed of 2,31 dirhams. If the agreement is finalized, ‘Adq’ Holding will increase its control over one of the most prominent delivery services companies in the region, increasing its grip on the local transport and logistics service sector. ‘Holding’ already has important assets that include ports, airports and the National Airline of Abu Dhabi. Rothschild Bank works as a financial advisor for “Qsticex”, while “Emirates NBD Capital” is the role of the transaction manager, and “Emirates NBD” is the agent to receive the offer. Acquiring an Aramex is a new indication that sovereign wealth funds in the region will continue the wave of purchase that you recently started. Aramex shares rose by up to 15% to 2.65 dirhams on Monday morning, with the largest daily profits since October 2023. Aramex was founded in 1982, and it was the first Arab company recorded on the Nasdaq Stock Exchange, and it is often seen as a regional alternative to international enterprises such as “Fedex” and “DHL”.