Dubai-Mubasher: Aramex confirmed the news that Australia Post has bought a 4.5% of its shares for around $100 million, according to a bourse statement.
In June, Australia Post announced it entered a strategic e-commerce alliance with Aramex to open emerging markets to Australian businesses and online shoppers, the Australian news website reported.
Fadi Ghandour, the co-founder of Aramex, sold all his remaining 9.9% stake in Levant Logistics Holdings to Boson Ventures Corporation, the Dubai-listed logistics firm announced late July.
