Aramex to buy 25% stake in WS One Investment
The board of Dubai-listed logistics company Aramex has approved the acquisition of 25% of WS One Investment’s shares, according to a statement on the Dubai Financial Market (DFM) on Monday.
WS One Investment provides cross-border mailbox consolidation services with operations out of Ohio in the United States.
Aramex posted a 10% increase in net profit in the first quarter of 2015, compared with the same period a year ago. Revenue was up 9% compared with the first three months of 2014.
The company expects profit to grow by 10% this year, reports Gulf News.