France's parcel delivery company GeoPost, a holding company owned by Le Groupe La Poste, bought 20.15 per cent of Dubai-listed courier Aramex, sending the UAE company's shares surging on Wednesday.
The acquisition of 295 million shares values the transaction at Dh1.4 billion ($381m), according to a filing on the Dubai Financial Market (DFM).
After the announcement, Aramex's shares jumped as much as 14 .92 per cent to Dh4.39, its biggest intraday gain since January 2009. With this gain, the stock erased its losses since January and was up 0.2 per cent for the year.
“Some of the potential benefits could include opportunities to strengthen presence across the networks of both parties and a more seamless and connected network across the globe for the provision of transport and logistics services," Aramex said in a statement, adding that there are several knowledge sharing possibilities that could help unlock further value for all stakeholders.
European parcel delivery network GeoPost, which was created as unit of the French government’s postal arm, delivers about 1.9 billion parcels a year through the brands DPD, Chronopost, SEUR and BRT. It reported sales of €11bn ($12.8bn) in 2020, according to its website. The company has a long-standing relationship with Aramex in Europe that goes back nearly a decade and half.
“The investment in Aramex is part of GeoPost’s international development. Aramex is already a key partner of GeoPost. Our two companies have been working together for 10 years, leveraging on GeoPost/DPDgroup’s strong presence in the European parcel delivery market and Aramex’s powerful international network in the Middle East, Asia, Africa and Oceania," Boris Winkelmann, chairman and chief executive of GeoPost/DPDgroup, said in a separate statement.
Aramex was founded in Jordan by Fadi Ghandour in 1982 and was the first company from the Arab world to list on the Nasdaq. It later delisted in 2002, went public again in 2005 and is currently listed on the Dubai Financial Market. Mr Ghandour sold his remaining shares in Aramex in 2016.
The courier company employs more than 15,500 people in more than 600 locations across more than 65 countries, according to its website.
Aramex's second-quarter revenue rose 21 per cent to Dh1.57bn, compared to Dh1.29bn in the same period last year, driven by increased demand for cross border e-commerce services and significant growth in the freight-forwarding and logistics business, it said in August.
Net profit for the second quarter decreased 31 per cent to Dh65.5m compared to Dh94.4m in the same quarter last year, "as the business continued to invest in its digital transformation to drive further operating efficiencies and adapt to evolving consumer and industry trends", it said.
Last month, Aramex said it adopted a new operational structure where it split its core businesses into Aramex Express and Aramex Logistics to capture a greater market share of the global logistics industry.
As part of the reorganisation, it appointed Johannes Distler as chief strategy officer, a newly created role to ensure the development and execution of Aramex’s corporate strategy, as well as the group’s international expansion and mergers and acquisitions agenda.
Mr Distler joins Aramex from Roland Berger, where he was a partner in the firm’s Dubai office.
EMILY%20IN%20PARIS%3A%20SEASON%203
%3Cp%3ECreated%20by%3A%20Darren%20Star%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Lily%20Collins%2C%20Philippine%20Leroy-Beaulieu%2C%20Ashley%20Park%3C%2Fp%3E%0A%3Cp%3ERating%3A%202.75%2F5%3C%2Fp%3E%0A
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
More on animal trafficking
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
On the menu
First course
▶ Emirati sea bass tartare Yuzu and labneh mayo, avocado, green herbs, fermented tomato water
▶ The Tale of the Oyster Oyster tartare, Bahraini gum berry pickle
Second course
▶ Local mackerel Sourdough crouton, baharat oil, red radish, zaatar mayo
▶ One Flew Over the Cuckoo’s Nest Quail, smoked freekeh, cinnamon cocoa
Third course
▶ Bahraini bouillabaisse Venus clams, local prawns, fishfarm seabream, farro
▶ Lamb 2 ways Braised lamb, crispy lamb chop, bulgur, physalis
Dessert
▶ Lumi Black lemon ice cream, pistachio, pomegranate
▶ Black chocolate bar Dark chocolate, dates, caramel, camel milk ice cream
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
