French express parcel firm Geopost acquires 20.15% stake in Dubai's Aramex

Europe Materials 20 October 2021 12:40 (UTC +04:00)

GeoPost, the express parcel arm of French Groupe La Poste, has acquired a 20.15% stake in Dubai-listed courier firm Aramex, according to a regulatory filing on Wednesday, Trend reports with reference to Reuters.

The French express logistics firm acquired about 295 million shares in Aramex, valuing the deal at 1.4 billion dirhams ($381.18 million), a filing on the Dubai Financial Market showed.