ADQ transfers 22% stake in Aramex to Abu Dhabi Ports

A delivery staff member wearing a protective mask unloads parcels from a vehicle outside Aramex office amid the coronavirus disease (COVID-19) crisis, in Bethlehem in the Israeli-occupied West Bank July 19, 2020. REUTERS/Mussa Qawasma

DUBAI, Jan 20 (Reuters) – Abu Dhabi government-owned holding company ADQ has transferred a 22.32% stake in logistics firm Aramex (ARMX.DU), which it acquired in 2020, to Abu Dhabi Ports, another company in its portfolio, Aramex said.

ADQ said in September 2020 it bought a roughly 22% stake in Dubai-based courier Aramex, which said the purchase was made via ADQ’s Alpha Oryx Ltd.

“Abu Dhabi Ports Company PJSC has received today shares representing 22.3225% of the capital of Aramex PJSC from Alpha Oryx Ltd,” Aramex said in a bourse filing on Wednesday.

ADQ said in September last year it planned to list Abu Dhabi Ports on the Abu Dhabi Securities Exchange before the end of 2021. It was not known why the company has not been listed.

Reporting by Yousef Saba; editing by Richard Pullin

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