Australia Post progresses Aramex alliance
Australia Post has announced that it is building on its existing alliance with Aramex, by launching a new joint venture in September and also taking a stake in the logistics company. In a statement issued yesterday (3 August), Australia Post said: “Commencing in September, the joint venture will help connect Australian businesses and consumers to the world economy and the fast-growing Asian eCommerce market through a seamless inbound and outbound experience.
“Australia Post will provide last mile delivery in Australia, utilising the existing network of drivers and posties to deliver volumes generated by the joint venture.”
Australia Post also used yesterday’s statement to report that it has made a “strategic” investment in Aramex and currently has a 4.5% shareholding. Aramex will also invest in Star Track International (STI), helping to expand STI’s operations.
Australia Post said that the Aramex tie-up will “complement” its range of global alliances, including a 49% joint venture with China Post, Sai Cheng Logistics International.
As previously reported, there have been some interesting developments in Aramex’s shareholding over the past couple of weeks. Last Thursday (28 July), the Dubai Financial Market (DFM) officially noted that Jaona Investment had bought a 6.55% stake in Aramex for AED437.55m. A few days earlier, it was reported (but not officially confirmed) that Aramex co-founder and vice chairman Fadi Ghandour had sold his stake in the courier company to Mohamed Alabbar and other Gulf investors.
