×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: ML | Dubai | Aramex

Mideast Courier Aramex Founder Cashes out 10-percent Stake

Sunday, 31 July 2016 07:07 AM

DUBAI, United Arab Emirates (AP) — The founder of Mideast courier Aramex has sold a nearly 10-percent stake in the Dubai-based company.

Aramex said in a stock exchange filing Sunday that founder Fadi Ghandour has sold all of his stake in Levant Logistics Holdings, a Cayman Islands-based company that controls a 9.9-percent stake in Aramex. The buyer was another Cayman Islands-based company, Boson Ventures Corporation.

Aramex did not disclose when the sale happened or at what price. Based on the most recent Aramex closing price, the stake is worth 579.8 million dirhams ($158 million).

Aramex shares rose on the news, gaining 2.8 percent to 4.11 dirhams by early afternoon even as the broader Dubai Financial Market declined.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


MiddleEast
The founder of Mideast courier Aramex has sold a nearly 10-percent stake in the Dubai-based company.Aramex said in a stock exchange filing Sunday that founder Fadi Ghandour has sold all of his stake in Levant Logistics Holdings, a Cayman Islands-based company that controls...
ML,Dubai,Aramex
116
2016-07-31
Sunday, 31 July 2016 07:07 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved