Deutsche Post reaches agreement to purchase DHL Iberia
Deutsche Post has reached an agreement with the minority shareholders of DHL Iberia to purchase all of the company’s outstanding shares, the German express delivery and logistics provider said in a statement Thursday.
In early 2003, Deustche Post decided to incorporate into DHL Iberia its Spanish acquisitions (Guipuzcoana Euroexpress, Danzas and DHL) in a process expected to conclude next year.
The latest agreement will allow the German giant to acquire the remaining stake in DHL Iberia in a deal that could be finalized by year-end.
The purchase must be approved by the European Union competition regulatory agency, which Deutsche Post has advised of the acquisition.
With 2003 sales of some 22 billion euros ($26.6 billion), DHL is the world’s largest shipping and logistics company, offering air, sea and land freight services.
DHL operates in more than 220 countries and has some 160,000 employees.
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Deutsche Post increases stake in DHL Iberia to 100% (Deutsche Post: acuerdo para alcanzar el cien por cien de DHL)
Expansion, p 6 09-10-2004
Deutsche Post, the German postal service operator, is to increase its stake in DHL Iberia, its Spanish and Portuguese parcel delivery subsidiary, to 100 per cent by the end of 2004. Once the deal has been approved by the EU anti-trust authority, the group will acquire the shares that minor shareholders hold in DHL Iberia.
DHL Iberia consists of the Spanish and Portuguese activities of DHL International, Danzas and Grupo Guipuzcoano. Deutsche Post first acquired a stake in Grupo Guipuzcoano in 1999.
Abstracted from Expansion
