Abu Dhabi’s sovereign investor, ADQ, has solidified its position in the logistics sector by acquiring a majority stake in Dubai-listed courier firm Aramex. This development follows a voluntary conditional cash offer initiated through its subsidiary, Q Logistics Holding LLC.
Q Logistics obtained acceptances representing 40.57% of Aramex’s shares. Prior to this offer, ADQ already held a 22.69% stake in Aramex via the Abu Dhabi Ports Group, in which it maintains a 75.42% ownership. The combined holdings now grant ADQ a controlling interest of 63.26% in the logistics company.
The tender offer was priced at AED 3.00 per share, valuing Aramex at approximately AED 4.39 billion. Shareholders were given until March 24 to accept the offer, with the final tally of tendered shares announced on March 28. Following the news, Aramex shares experienced a 1.81% uptick on the Dubai Financial Market, closing at AED 2.82.
Mansour AlMulla, Deputy Group Chief Executive Officer at ADQ, expressed enthusiasm about the acquisition, stating that Aramex will be an integral component of ADQ’s Transport & Logistics cluster. This cluster already includes leading entities such as AD Ports Group, Abu Dhabi Airports, Etihad Airways, and Etihad Rail. AlMulla emphasized plans to leverage ADQ’s extensive track record of growing local companies into globally competitive market leaders for the benefit of Aramex and all its stakeholders.
This strategic move aligns with ADQ’s broader objective to enhance its transport and logistics portfolio. The company’s holdings encompass significant enterprises across various sectors, including energy and utilities, food and agriculture, and healthcare and life sciences. Established in 2018, ADQ has rapidly expanded its portfolio, with total assets amounting to USD 225 billion as of June 30, 2024.
Aramex, founded in 1982, has evolved into a global provider of comprehensive logistics and transportation solutions. The company’s integration into ADQ’s portfolio is anticipated to bolster its growth trajectory and enhance its competitive edge in the international logistics arena.
The acquisition process commenced on January 13, 2025, when Q Logistics announced its intention to acquire up to 100% of Aramex’s issued and paid-up ordinary shares not already held by Abu Dhabi Ports Company PJSC. The offer document received approval from the Securities and Commodities Authority and was subsequently presented to Aramex’s Board of Directors. After reviewing the fairness opinion from HSBC, which deemed the offer fair from a financial perspective, the board recommended the offer to Aramex’s shareholders.
Under SCA regulations, ADQ retained the discretion to accept shares from shareholders who did not tender during the initial offer period until 3:00 pm on March 24, 2025, at the offer price of AED 3.00 per share. The final total number of tendered shares was announced on March 28, 2025.