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English news

05-Jun-2016

Aramex to form JV with Australia Post, MailCall is part of the deal

Aramex announced today it will form a joint venture with Australia Post that targets the global e-commerce market, with a particular focus on Asia. This joint venture intends to acquire Australia Post’s StarTrack International global e-commerce postal solutions business and build on the service capability of this business. Aramex intends to sell its Sydney-based MailCall Couriers to Australia Post’s StarTrack Courier. This will result in combining the resources and expertise of Aramex and Australia Post to build an e-commerce delivery platform, according to Aramex’s CEO. (Aramex press release)   Aramex: AED3.38 as of 02 June 2016, Rating: Buy, FV: AED4.20 per share, MCap: USD1,348 million, ARMX UH / ARMX.DU

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