- 13 March 2019
- Transport / Logistics Services
More non-Middle Eastern shareholders are able to buy stakes in the regional express and logistics giant Aramex after Australia Post sold its 10% holding in the company.
On the Dubai stock market, non-Gulf residents can acquire up to 49% of a company listed there. With Australia Post selling its stake for a reported US $164 million, this opens the door to foreign investors.
The announcement of its plans to divest its stake in Aramex came in Australia Post’s 2017-18 Annual Report. The Report stated, “During the year, the Group has reviewed its international strategy. As a result of this review, the Group has committed to sell its 10.01 per cent shareholding in Aramex PJSC, an individually material investment in associate.”
Australia Post’s international growth strategy will continue to be supported by its wholly-owned business, Australia Post Global eCommerce Solutions (APG eCommerce Solutions), which has an established presence in key global eCommerce trade lanes, including Asia, the UK, Europe and the US.