Thiel Logistik sells stake in DPD Austria to GeoPost

GeoPost, Europe’s third largest provider of express and deferred parcels services, has reached an agreement to acquire Thiel Logistik AG’s 25.5% stake in DPD Austria.

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 this, GeoPost will be DPD Austria’s second largest shareholder. GeoPost holds about 85% in the DPD franchisor organization.

“This successful disinvestment means another step forward towards focussing on our core business,” stated Klaus Eierhoff, CEO of Thiel Logistik.

“I am delighted with the positive outcome of our negotiations with Thiel Logistik,” added Claude Begle, CEO of GeoPost. “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.”