Australia Post divests Aramex stakeholding

Australia Post has divested its 10.06% shareholding in global logistics company Aramex.The decision to divest the shareholding apparently followed a review of Australia Post's international strategy, completed during 2018.In December 2018 Australia Post announced its decision to acquire Aramex’s 60% stake in Aramex Global Solutions, the e-commerce logistics joint venture between Aramex and Australia Post.Australia Post acquired a stake in Aramex in 2016, also forming a strategic alliance with the Dubai-based global parcel and logistics firm, targeting the global e-commerce market, with a particular focus on Asia.Following the divestment of its Aramex shareholding, Australia Post's international growth strategy will continue to be supported by its wholly-owned business, Australia Post Global eCommerce Solutions.Australia Post says this business complements its joint venture with China Post, Sai Cheong Logistics.