ARAMEX FOUNDER CASHES IN

7 Days in Dubai - - BUSINESS -

The founder of Mid­dle East courier firm Aramex has sold his stake in a firm that owns nearly 10 per cent of the Dubai-based com­pany. Aramex said in a stock ex­change fil­ing on Sun­day that founder Fadi Ghan­dour has sold all of his stake in Le­vant Lo­gis­tics Hold­ings, a Cay­man Is­lands-based com­pany that con­trols a 9.9 per cent stake in Aramex. The buyer was an­other Cay­man Is­lands com­pany, Bo­son Ven­tures Cor­po­ra­tion. Aramex did not dis­close when the sale hap­pened or at what price. Based on the most re­cent Aramex clos­ing price, the stake is worth Dhs579.8 mil­lion ($158 mil­lion).

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