Australia Post to wholly acquire Aramex Global Solutions

Australia Post will acquire Aramex's 60% stake in Aramex Global Solutions (AGS), the e-commerce logistics joint venture Australia Post, for US$20 million. Currently, Australia Post holds a 40% share of AGS.In 2016, Australia Post formed a strategic alliance with the Dubai-based global parcel and logistics firm, targeting the global e-commerce market, with a particular focus on Asia.Aramex said the decision to sell its stake in AGS to Australia Post “came as a mutually agreed transaction that will allow both organizations to independently execute their strategic growth in the booming global e-commerce industry”.Australia Post currently holds a 10% stake in Aramex.