ADQ, recognized as the third-largest sovereign wealth fund in Abu Dhabi, has successfully secured a majority stake in Aramex, a logistics company listed in Dubai. Following a voluntary tender offer, ADQ now owns 58 percent of Aramex. This includes 23 percent held by its subsidiary, AD Ports Group, and an additional 35 percent acquired from previous shareholders, as stated by ADQ.

In January, Q Logistics Holding, an indirect subsidiary of ADQ Development Holding, had proposed to purchase a complete shareholding in Aramex at a price of AED3 ($0.82) per share. ADQ also fully owns ADQ Development Holding, signaling a strategic investment in the logistics sector.

Mansour AlMulla, the deputy group CEO at ADQ, remarked that Aramex will play a crucial role in their transport and logistics cluster, which already comprises companies such as AD Ports Group, Abu Dhabi Airports, Etihad Airways, and Etihad Rail.

As per the regulations set by the Securities and Commodities Authority, ADQ can still acquire shares from Aramex shareholders who did not participate in the initial offer until March 24. The total number of shares submitted during this period will be disclosed on March 28.

ADQ’s total assets are reported to be $225 billion as of June 30, 2024, with investments spanning several key sectors, including energy, utilities, transport, logistics, food and agriculture, healthcare, and life sciences.

In early trading on Tuesday, Aramex’s share price increased by nearly 1 percent to AED2.78, marking an impressive 25 percent rise in value since the beginning of the year.