Thiel Logistik sells stake in DPD Austria to GeoPost
GeoPost International Management & Development Holding GmbH and Thiel Logistik AG agreed that GeoPost will acquire the shares in DPD Austria held by Thiel Logistik.
(10/29/2004)
Representing 25.5% of DPD Austria’s capital, these shares were originally held by non-depositary partner companies Birkart, Dachser and Nathe & Quehenberger, with each holding equal stakes.
The share purchase price has not been disclosed.
The transaction is currently awaiting approval from Austrian anti-trust authorities. All parties expect the acquisition to be finalised by the end of this year, after which GeoPost will be DPD Austria’s second largest shareholder. GeoPost holds about 85% in the DPD franchisor organisation.
“This successful disinvestment means another step forward towards focusing on our core business,” said Klaus Eierhoff, CEO of Thiel Logistik.
Claude Béglé, CEO of GeoPost International Management & Development Holding and CEO of DPD, stated: “I am delighted with the positive outcome of our negotiations with Thiel Logistik. DPD Austria is an extraordinarily efficient and successful company in its domestic market and also forms an important link in our cross-border, pan-European DPD network.”
