ABU DHABI: Abu Dhabi’s sovereign wealth fund ADQ, through its subsidiary Q Logistics Holding LLC, has announced a voluntary conditional cash offer to acquire up to 100% of Dubai-listed courier firm Aramex, excluding the 22.69 per cent stake already owned by Abu Dhabi Ports Co.
Shareholders who accept the offer will receive AED3 ($0.82) per share, representing a 33 per cent premium over Aramex’s last traded price of AED 2.25 as of January 9, 2025, according to a filing with the Dubai Financial Market (DFM).
Abu Dhabi Ports, which is 75.42 per cent owned by ADQ, currently holds 22.69 per cent of Aramex shares. Q Logistics Holding LLC, the acquiring entity, does not yet own any shares in the company.
Aramex’s board is scheduled to discuss the offer during a meeting on Wednesday, January 15. The news propelled Aramex’s shares to AED2.65 at Monday’s opening, a 14.7 per cent jump, DFM data showed.
ADQ’s global reach and India strategy
ADQ, one of Abu Dhabi’s leading sovereign wealth funds, manages a diverse portfolio of investments spanning sectors such as energy, logistics, healthcare, and food. In recent years, the fund has significantly increased its focus on India, making strategic investments to bolster its portfolio.
In 2022, ADQ invested in Lenskart, India’s largest eyewear retailer, to support its growth and digital expansion. The fund has also partnered with Indian companies in the healthcare sector, reflecting its commitment to strengthen biopharma manufacturing and R&D capabilities in the region.
ADQ’s emphasis on food and agriculture aligns with its broader strategy of enhancing food security, with investments in Indian agritech startups and supply chain initiatives.
