- 22 October 2021
- Transport / Logistics Services
La Groupe La Poste owned GeoPost has bought a 20.15% stake in Middle Eastern logistics giant Aramex. The transaction of Dh1.4 billion (276 million) led the Middle Eastern firm’s shares to jump in value by almost 15% this week.
“Some of the potential benefits could include opportunities to strengthen presence across the networks of both parties and a more seamless and connected network across the globe for the provision of transport and logistics services,” Aramex said in a statement, adding that there are several knowledge sharing possibilities that could help unlock further value for all stakeholders.
GeoPost is the parcel delivery arm of the French La Groupe La Poste and amongst other firms in its portfolio includes DPD and Chronopost. It already has a long standing relationship with Aramex in Europe that goes back at least 15 years.
“The investment in Aramex is part of GeoPost’s international development. Aramex is already a key partner of GeoPost. Our two companies have been working together for 10 years, leveraging on GeoPost/DPDgroup’s strong presence in the European parcel delivery market and Aramex’s powerful international network in the Middle East, Asia, Africa and Oceania,” Boris Winkelmann, chairman and chief executive of GeoPost/DPDgroup, said in a separate statement.