Abu Dhabi sovereign wealth fund ADQ finalized the acquisition of a 63.2% stake in DFM-listed logistics giant Aramex, slightly below the previously expected 63.3%, according to a press release (pdf). The offer became unconditional after receiving regulatory approvals and internal clearances The transaction was completed through a voluntary tender offer by Q Logistics Holding, ADQ’s wholly owned subsidiary.

REMEMBER- Q Logistics had offered AED 3 per share to acquire all Aramex shares not held by AD Ports Group, valuing the company at AED 4.4 bn. By the end of the offer period, Q Logistics had acquired 35.3% of Aramex. Additional shares were tendered after the deadline, bringing the total acquired to 40.5% and its total stake to 63.2%, ADQ had already held a 22.7% stake through AD Ports Group.

Aramex will now be integrated into ADQ’s transport and logistics portfolio, which includes assets such as AD Ports, Etihad Rail, Etihad Airways, and Abu Dhabi Airports.

What’s next? Payment to Aramex shareholders and registration of the acquired shares under Q Logistics are scheduled for 25 July.

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