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Australia Post divest Aramex stake in AED 602.6 million deal

2019-03-14 11:15:30 GMT (Economies.com)
Australia Post divest Aramex stake in AED 602.6 million deal
 

Australia Post Transaction Services sold its 10% holding in Dubai-based Aramex for AED 602.6 million ($164 million), through an over-the-counter transaction on 147.34 million shares, according to a filing. 

 

Meanwhile, Aramex stock rose by 9.13% yesterday to reach AED 4.38; its highest level since January 2017.

 

Aramex said earlier full-year net profit increased 13 % to AED493 million, from the previous year as revenues increased about 8 % to AED5 billion.

 

In December, Aramex sold its stake in a joint venture with Australia Post, incurring a one-off impairment of AED46m.

 
 
 
  Symbol Last Change Chg.%
1.1162
-0.0001
0.0063%
1.2705
-0.0032
0.2481%
14.455
0.037
0.260%
62.977
0.296
0.473%
72.18
0.21
0.29%
1274.665
-3.100
0.243%
 
 
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