Finland Post To Sell Stake in Kelpo Kuljetus JV to German DHL
Finland Post Group said on July 12, 2006 it will sell its 49 pct stake in the transport joint venture Kelpo Kuljetus Fi Oy to joint venture partner DHL, the logistics and express delivery business of German postal service group Deutsche Post.
No financial details were available.
The transaction is subject to approval by the competition authorities.
The deal is part of the partners’ aim to focus on their core businesses.
Under the agreement, Finland Post will acquire Kelpo Kuljetus’ regional transport business, comprising the transports from post centres to delivery post offices and customers. Finland Post will take over the equipment, contracts and staff. The staff will continue at the service of Finland Post under their current terms of employment.
The joint venture’s linehaul transport fleet, transportation and terminal personnel will remain under the ownership of Kelpo Kuljetus, and thereby under the ownership of DHL.
DHL and Finland Post will retain their co-operation in linehaul transports between sorting centres.
DHL (www.dhl.com) provides express transports by air, land and overseas, as well as logistics solutions and international postage services. Its international operation network covers over 220 countries. The group employs 285,000.
Kelpo Kuljetus Fi (www.kelpokuljetus.fi) provides terminal, transportation and distribution services for corporations. The company employs 700.
