Abu Dhabi sovereign investor ADQ has acquired a 63.26% stake in Dubai-listed courier firm Aramex through a voluntary cash offer by its subsidiary, Q Logistics Holding.

Q Logistics secured 40.57% of Aramex shares in the offer, adding to ADQ’s existing 22.69% stake via Abu Dhabi Ports Group and surpassing UAE M&A requirements.

The offer was priced at 3 dirham (US$0.82) per share, valuing Aramex at 4.39 billion dirham (US$1.2 billion).

Aramex shares rose 1.81% after the announcement.

ADQ said the acquisition aligns with its strategy to strengthen its transport and logistics portfolio, which includes Abu Dhabi Ports Company, Etihad Airways, and Etihad Rail Company.