Gulf investors reportedly buy stake in Aramex
Aramex co-founder Fadi Ghandour has reportedly sold a stake in Aramex to a number of Gulf investors, including Mohamed Alabbar. A report published by Bloomberg yesterday (26 July) said that “two people with knowledge of the deal” had said that Ghandour had sold his full stake, and that Goldman Sachs had advised Mohamed Alabbar on the deal.
There has been no official confirmation or comment from Aramex, Ghandour, Alabbar or Goldman Sachs.
Ghandour was the Chief Executive Officer (CEO) of Aramex up until 2012, when he stepped down and took on the new position of Vice Chairman.
Aramex has become a key global player in the logistics market. For the first quarter (Q1) of this year, the company reported net profits of AED96.9m, up 12% from AED86.6m in Q1 2015. Revenues were AED1,048m, up 13% on the AED930m in Q1 2015.
