Deutsche Post to sell 18 hotel properties this week
Deutsche Post AG will announce the sale of its 18 hotel properties to an unnamed Munich investor this week, the Sueddeutsche Zeitung reported, without saying where it obtained the information.
The newspaper did not say how much the company will receive for the properties, which were originally built to house employees travelling on business.
It noted, however, that Deutsche Post has received at least 200 mln eur in recent years from the sale of such non-core assets.
Financial investor Aurelius acquires Deutsche Post subsidiary DPW (Aurelius ubernimmt die Deutsche Post Wohnen)
HANDELSBLATTEuropean Intelligence WireHandelsblattHandelsblatt, p 15 01-17-2006
German investment company Aurelius Investkapital is to acquire German accommodation company Deutsche Post Wohnen (DPW), a subsidiary of German postal services provider Deutsche Post. The takeover is to take retrospective effect from 1 January 2006.
DPW operates eight hotels, ten guest houses and four conference centres. With 70 employees, DPW counted around 420,000 overnight stays in 2005. Aurelius said that it wished to build a medium-sized hotel chain from the acquisition of DPW. A spokesperson for Deutsche Post highlighted that the DPW properties themselves had not been sold, but rented. Deutsche Post is currently disposing of non-core activities. Experts believe that the postal group has made 200m euros from disposals so far.
Abstracted from Handelsblatt
