Emirates Post will put a strong focus on Asia under its “aggressive” international expansionstrategy, according to director general Abdulla Al Daboos. The Dubai-based company is ready to
spend about $400 – $500 million on acquisitions in a bid to become an important regional player, hetold participants at the Asia Pacific Mail & Express 2006 conference in Singapore this week.Outlining the organisation’s growth strategy, Al Daboos commented: “This means buying, likeeverybody else”. Emirates Post currently has three ‘due diligences’ under way in India, two in theUK and one other in Europe, he revealed. It is also looking at China. The fast-growing postaloperator is looking in particular at courier and freight forwarding companies, he said.
An Emirates Post Group holding company would be formed shortly, and a 49% stake would then befloated on the Dubai stock exchange, Al Daboos said. He aims to raise about $1 billion from theIPO.
