Deutsche Post and TPG aiming for consolidation of the European market
Deutsche Post, the German mail, express and logistics giant, and Dutch rival TPG are taking stakes in foreign firms in deals aimed at kick-starting the consolidation of the European market. Deutsche Post said it is taking a 38 percent stake in Spanish postal company Unipost and TPG is close to finalising the acquisition of a 25 percent holding in Post Danmark, Denmark’s state postal monopoly.
Deutsche Post, which owns DHL, the global courier company, didn’t disclose the price it is paying for its stake in Barcelona-based Unipost, which specializes in delivering business mail in Spain and had sales last year of USD78.5 million.
TPG, parent of TNT, the global express carrier, said it has made a non-binding preliminary bid for a stake in Post Danmark. The company is said to have bid between 100 million and 200 million euros (USD122-USD244 million), edging out Deutsche Post, which reportedly offered less than 100 million euros.
