Aramex has announced a voluntary conditional cash offer from Q Logistics Holding, a fully owned subsidiary of Abu Dhabi’s ADQ Development Holding, to acquire up to 100% of the company’s issued share capital, as disclosed on the Dubai Financial Market (DFM).
In a mandatory filing with the DFM, Amanda Dahdah, Governance Officer and Board Secretary of Aramex, stated that the “matter will be presented to the company’s Board of Directors and the necessary procedures will be followed in accordance with the decision of the Chairman of the Board of Directors of the Securities and Commodities Authority No. (18 /R.M) of 2017 regarding the Rules of Acquisition and Merger of Public Joint Stock Companies.”
While Q Holding currently has no stake in Aramex, its associate, Abu Dhabi Ports Company (75.42% owned by ADQ), holds a 22.69% share in the company.
Aramex shareholders, excluding Abu Dhabi Ports Company, who accept the offer will receive AED 3 per share in cash.
The offer represents a 33% premium over Aramex’s last traded share price of AED 2.25 on 9 January 2025, and a 35% premium over the one-month volume-weighted average price (VWAP) of AED 2.23 per share.
ADQ is a global sovereign investor with a focus on critical infrastructure and supply chains. Its portfolio includes companies across sectors such as energy, utilities, transport and logistics, food, agriculture, healthcare, and life sciences.
Transport and logistics, one of ADQ’s priority sectors, includes major assets like Abu Dhabi Ports Company, Etihad Airways, Abu Dhabi Airports Company, Etihad Rail Company, Wizz Air Abu Dhabi, Q Mobility, and Abu Dhabi Aviation.
Q Holding views Aramex as a complementary addition to its transport and logistics assets and believes it could play a key role in advancing ADQ’s broader economic goals.
Aramex has experienced declining revenues recently but reported USD 1.26B in revenue for the first nine months of 2024. At that time, the company had a market cap of USD 897M, with over 16,000 employees and more than 600 offices worldwide. The quarterly revenue grew by 18% year-on-year to USD 434M.
