By: Gulf news

Dubai: Abu Dhabi’s Q’s Logistics has reached a milestone in its takeover plans for DFM-listed Aramex.

As of now, its shareholding in the Dubai logistics company totals 63.26% - this exceeds the ‘minimum acceptance conditions’ specified under the UAE regulator’s Mergers & Acquisitions Rules.

Now, this shareholding includes the 22.69% owned by Abu Dhabi Ports Company. Q Logistics and AD Ports Group are part of the Abu Dhabi wealth fund ADQ.

Another 40.57% held by Q in Aramex comes from the latter’s shareholders deciding to sell their stakes to the Abu Dhabi entity. 

Q Logistics said ‘it will continue to accept shares from shareholders who did not tender during the offer period until 3pm on 24 March, 2025’, said a statement.

Deal proceeds smoothly for Q

Q was offering to buy from Aramex shareholders at Dh3 a share. (On DFM, the share is trading at Dh2.77. The Q offer values Aramex at $1.2 billion.)

Market analysts say it has been a 'smooth sailing' for Q when it comes to getting the deal done. "That Abu Dhabi Ports Company was already a significant shareholder only made things easier in getting a majority of other shareholders on board," said an analyst.

When it comes to the non-energy space, the Q-Aramex deal represents one of the bigger M&A plays in the UAE.