Q Logistics Eyes Full Acquisition of Aramex
Aramex PJSC updates on Q Logistics' acquisition bid.
Summary
Aramex PJSC announces Q Logistics' intent to acquire up to 100% of its shares, appointing advisors for regulatory compliance and ensuring uninterrupted operations.
Aramex PJSC, a leading logistics and transportation company based in the United Arab Emirates, has announced an update regarding Q Logistics Holding LLC's intention to submit a voluntary conditional cash offer to acquire up to 100% of the company's issued and paid-up share capital. This offer excludes shares held by the Abu Dhabi Ports Company PJSC.
On January 15, 2025, Aramex's Board of Directors convened to discuss this significant offer, marking the initial stage of the acquisition process. To ensure compliance with regulatory requirements and to protect the interests of all stakeholders, Aramex has appointed HSBC and Clifford Chance LLP as independent financial and legal advisors, respectively.
The company is committed to adhering to the applicable laws, including the decision of the Chairman of the board of directors of the Securities and Commodities Authority No. (18 /R.M) of 2017, which outlines the rules of acquisition and merger of public joint stock companies. These regulatory requirements include conducting a due diligence exercise, launching an official tender offer, securing necessary approvals from the SCA, and preparing a fairness opinion along with notifications to shareholders.
Aramex has reassured all stakeholders that this development will not impact the company's operations. With over 40 years of leadership in the logistics and transportation industry, Aramex continues to deliver uninterrupted, high-quality services to its customers and partners. The company views this acquisition offer as a testament to its business strength, achievements, and future potential.
While the acquisition process unfolds, investors might be wondering about the best course of action regarding their shares in Aramex. Given the current situation, it is advisable to adopt a 'hold' strategy. This approach allows investors to wait for further developments and announcements from the company. The involvement of reputable advisors and the company's commitment to regulatory compliance suggest that the acquisition process is being handled with due diligence.
In conclusion, Aramex's announcement of Q Logistics' acquisition bid underscores the company's robust position in the logistics industry. Stakeholders are encouraged to stay informed about upcoming announcements and developments as Aramex navigates this significant corporate event.
Source
Summary
Aramex PJSC has provided an update on Q Logistics Holding LLC's intention to make a voluntary conditional cash offer to acquire up to 100% of Aramex's share capital, excluding shares held by Abu Dhabi Ports Company PJSC. On January 15, 2025, Aramex's Board of Directors discussed the offer and appointed HSBC and Clifford Chance LLP as independent financial and legal advisors to ensure compliance with regulatory requirements and protect stakeholders' interests. The process will adhere to applicable laws, including conducting due diligence, launching a tender offer, securing necessary approvals, preparing a fairness opinion, and notifying shareholders. Aramex will announce any significant developments as they occur. The company assures stakeholders that its operations remain unaffected and views the offer as a recognition of its business strength and potential. Aramex appreciates the ongoing support from its shareholders, customers, and partners.
