Aramex, Dubai-headquarted logistics company, is planning to acquire e-commerce platform MyUS, as part of its plans to expand global operations.
“MyUS’s business and expertise are a natural extension of our solutions, a complementary to our flagship product – Shop & Ship, and we see significant benefits to be derived from this acquisition. We are acquiring a profitable business and this transaction is value accretive to Aramex and our shareholders,” Othman Aljeda, CEO of Aramex, said.
The company announced on Wednesday that it had entered into a binding agreement to fully acquire MyUS for $265 million as part of its efforts to capitalise on the $4 trillion global e-commerce sector.
The transaction is expected to be closed in the third quarter of 2022, the DFM disclosure stated that the purchaser will be its subsidiary Aramex USA Limited, and that it will be a 100 percent debt funded through third-party bank loans.
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