Mideast courier Aramex founder cashes out 10-percent stake

July 31, 2016 9:12 AM

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DUBAI, United Arab Emirates – The founder of Mideast courier Aramex has sold a nearly 10-percent stake in the Dubai-based company.

Aramex said in a stock exchange filing 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-percent stake in Aramex. The buyer was another Cayman Islands-based company, Boson Ventures Corporation.

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