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English news

02-May-2016

Aramex BoD to discuss buying the minority interest in its Egypt logistics subsidiary

Aramex PJSC (ARMX.DU) Board of Directors (BoD) will meet on 3 May 2016 to discuss and approve a number of  decisions, including proposals to: i) acquire the remaining 25% in” Aramex Mashreq for Logistic Service’s” in Egypt; Aramex currently owns 75% of the company; ii) enter into various services contracts with “Fadi Sarieddine Design Studio”; and iii) enter into a partnership with “Wamda Ventures JLT”; a company focused on community development. Fadi Ghandour, the vice chairman of Aramex BoD will abstain from voting on the last two agreements as he is an investor in both companies. (Company Disclosure)

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