Aramex acquires Saudi Arabia-based company for $80m

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Time: January 13, 2019 

Aramex acquires Saudi Arabia-based company for $80m
Aramex CEO Bashar Obeid

Dubai-based Aramex has acquired a Saudi Arabia-based company, Saudi TAL for Commerce and Contract Company Ltd, for approximately $80 million.

In a statement, Aramex CEO Bashar Obeid said that Saudi Arabia – already the company’s largest market in the Middle East – holds “significant growth potential for the business.”

“Our acquisition of Saudi TAL supports Saudi Arabia’s Vision 2030, which aims to encourage private sector investment to diversify the economy,” he added.

Obeid also said that the acquisition will help Aramex to have leaner and more efficient operations in the markets it operates in and will allow to focus on upgrading its last-mile delivery services.

In December, Aramex announced the launch of a crowd-based delivery platform, Aramex Fleet, in Saudi Arabia.

At the time, the company said that the new service aims to deliver Saudi nationals employment opportunities in flexible last-mile delivery duties.

With the move, Aramex said it became the first among major international logistics and transportation providers to integrate such a service in the Middle East and North Africa, with plans to introduce the platform to at least 10 more countries over the next 12 months.

This article was first published in Arabian Business

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