Dubai: Aramex shareholders have until March 10 to tender their shares and for the Dubai logistics company to be acquired by Q Logistics of Abu Dhabi. Q is offering Dh3 a share for the buyout.
Last week, the Aramex Board of Directors was told that the deal being offered was ‘fair’ by HSBC, which was mandated to look into the nitty-gritty of the offer.
If the deal goes through, this would be one of the biggest takeovers in the UAE corporate landscape and within the Middle East’s logistics and supply chain sector.
The deal places the Aramex valuation at $1.2 billion.
Q Logistics is part of ADQ, which has been pushing for a consolidation spree across sectors.
Aramex served up upbeat financials for its 2024 performance and its share price is at Dh2.81 on the DFM. Recent days have seen fairly decent volumes in the stock, as investors weighed in on the results and the Q offer.
In their offer to Aramex shareholders, Q Logistics has appointed EFG Hermes UAE Ltd. and International Securities llc as co-lead managers alongside Emirates NBD Capital.
Once the deal is done, the other major shareholder in Aramex will be AD Ports Group.
The DFM has in recent years seen some high-visibility corporate makeovers, with Emaar Malls getting absorbed by Emaar Properties, while Dubai Parks & Resorts went through the same process under Meraas.
