GeoPost/DPDgroup, a subsidiary of Groupe La Poste, has announced that it has acquired a 21.6% stake in UAE delivery firm Aramex.
Boris Winkelmann, chairman and CEO of GeoPost/DPDgroup, said, “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.”
Aramex is a listed entity on the Dubai Financial Market and the investment was purchased through a combination of direct and open market transactions. The investment is subject to notification to the regulatory authorities.