ADQ, a prominent sovereign investor focused on critical infrastructure and global supply chains, has successfully acquired a 63.26% stake in Aramex. This acquisition marks a significant step in ADQ’s strategy to expand its investment portfolio in the logistics sector.

In a stock market disclosure, Mansour AlMulla, Deputy Group Chief Executive Officer of ADQ, indicated that Q Logistics Holding, a subsidiary of ADQ, received acceptances from shareholders representing 40.57% of Aramex’s shares. This, combined with the 22.69% ownership already held by AD Ports Group, another subsidiary of ADQ, totals the stake to 63.26%. ADQ has expressed its intention to secure full ownership of Aramex.

The acquisition has surpassed the minimum acceptance threshold mandated by the Mergers and Acquisitions Rules set forth by the Securities and Commodities Authority. This progression clears the way for ADQ’s mandatory acquisition of the remaining shares. Despite the offer period concluding on March 24, the stock market disclosure noted that Q Logistics Holding would continue to accept shares from shareholders.

The shares are being purchased at Dh3 each, which represents a premium over the closing price of Dh2.82 at the Dubai Financial Market (DFM) on the preceding Friday.

AlMulla also stated that Aramex will play a vital role in ADQ’s Transport & Logistics cluster, which includes major entities like AD Ports Group, Abu Dhabi Airports, Etihad Airways, and Etihad Rail. He remarked, “As the majority shareholder in Aramex, we plan to leverage our extensive track record of growing local companies into globally competitive market leaders for the benefit of Aramex and all its stakeholders.”

ADQ anticipates that transforming Aramex will be a complex and capital-intensive process that may take time to yield results, potentially limiting short- to medium-term returns for shareholders, as indicated in previous stock market disclosures.