Singapore state investor Temasek is considering selling UK-based Element Materials Technology, Bloomberg reported; while Abu Dhabi sovereign investor ADQ has increased its stake in Dubai-listed courier firm Aramex.
Temasek mulls selling Element Materials Technology: report
Singapore state investor Temasek is considering selling Element Materials Technology–a UK-based testing and inspection company, Bloomberg reported on Monday.
Temasek had bought Element in a deal valuing it at more than $7 billion, including debt, in 2022. The state investor has been a minority shareholder in Element since 2019. Temasek acquired Element from Bridgepoint, a British private investment company listed on the London Stock Exchange.
Temasek is working with advisors to solicit interest. Temasek’s deliberations are at an early stage, and there’s no certainty they’ll lead to a deal, according to Bloomberg.
The Element Materials Technology Group is a global provider of testing, inspection, and certification services for a diverse range of products, materials, and technologies in advanced industrial supply chains where failure in use is not an option.
ADQ increases stake in Dubai-listed courier firm Aramex
Abu Dhabi’s sovereign investor ADQ has become a majority shareholder in Dubai-listed courier firm Aramex following a voluntary conditional cash offer initiated through its subsidiary Q Logistics Holding.
Q Logistics obtained acceptances representing 40.57% of Aramex’s shares. ADQ already held a 22.69% stake in Aramex via the Abu Dhabi Ports Group. Consequently, ADQ’s combined holdings in Aramex now stand at 63.26%.
The offer was priced at 3 dirham ($0.82) per share, valuing Aramex at 4.39 billion dirham ($1.2 billion).
Established in 2018, ADQ is a global sovereign investor with a focus on critical infrastructure and supply chains. As a strategic partner to the Government of Abu Dhabi, ADQ invests in the growth of business platforms anchored in the Emirate.
ADQ’s total assets stood at $225 billion as of June 30, 2024. Its portfolio encompasses companies across numerous core sectors of the economy, including energy and utilities, transport and logistics, food and agriculture, and healthcare and life sciences.
Aramex, founded in 1982, has evolved into a global provider of comprehensive logistics and transportation solutions. The company’s integration into ADQ’s portfolio is anticipated to bolster its growth trajectory and enhance its competitive edge in the international logistics arena.
