Controversial mailing giant Australia Post has obtained a $100m stake in Dubai-based mail firm Aramex in a bid to boost its capacity to ‘service the global eCommerce market.’
Aus Post signalled plans it would purchase a 4.5 per cent stake in the UAE company next month as part of the deal, calling the proposal a ‘joint venture’ that will assist in putting Australian businesses on the global stage.
“Commencing in September, the joint venture will help connect Australian businesses and consumers to the world economy and the fast-growing Asian eCommerce market through a seamless inbound and outbound experience,” says Australia Post.
“Australia Post will provide last mile delivery in Australia, utilising the existing network of drivers and posties to deliver volumes generated by the joint venture.”
[Related: Australia Post looks to act after complaints]
The mail company has not yet disclosed any plans to restructure its local post division, which is the bedrock of its services.
Aus Post has turned majority of efforts to the eCommerce market in recent times, in March the postal company also invested in a partnership with digital business Data61.
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at [email protected]
Sign up to the Sprinter newsletter