Business

ADQ Acquires Additional Stake in Aramex

ADQ, the Abu Dhabi-based state-owned active sovereign investor with a focus on critical infrastructure and global supply chains, on Tuesday announced that it has acquired an additional 35.31% stake in logistics giant Aramex through its wholly-owned subsidiary Q Logistics Holding.

The offer was closed on Monday bringing s ADQ’s total indirect ownership in Aramex to 58%, and the transaction, which is pending completion.  Q Logistics Holdings launched a voluntary tender offer last month to buy up all of Aramex’s shares, excluding the 22.69% stake already held by ADQ shipping unit AD Ports valuing Aramex at $1.2 billion.

ADQ will become the majority shareholder in Aramex, subject to successful completion of the transaction, including those already owned by AD Ports Group, in which ADQ holds a majority stake.

ADQ CEO ‍Mansour AlMulla said that Aramex will be an integral component of their transport & logistics cluster which already includes leading companies such as AD Ports Group, Abu Dhabi Airports, Etihad Airways, and Etihad Rail.

“As the majority shareholder in Aramex, we have plans to leverage our extensive track record of growing local companies into globally competitive market leaders for the benefit of Aramex and all its stakeholders,” AlMulla added.

Still Accepting Shares

As per the UAE’s Securities and Commodities Authority (SCA) regulations, ADQ has discretion to accept shares from shareholders who did not tender during the offer period until 3 pm (the UAE time) on 24 March 2025 at the offer price of $0.82 per share.

The offer price represents an attractive premium of 33% premium to last share price close of $0.61 per share as of 9 January 2025, 35% premium to one-month Volume Weighted Average Price (VWAP) of around $0.61 per share and 32% premium to 3-month VWAP of $0.62 per share. The final total number of tendered shares will be announced on 28 March 2025.

Subject to conditions including the settlement process, ADQ will become the majority shareholder in the company.

As a majority shareholder, ADQ has plans to support the transformation of Aramex, which it expects to be complex, capital intensive and to take time, which may consequently limit the perspective of short to medium-term return for shareholders, according to the official bid document.

Global Business Magazine

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