Deutsche Post To Sell Vfw
German postal services group Deutsche Post AG plans to sell its wholly owned subsidiary, the local reverse logistics company Vfw AG, Deutsche Post reported on October 9, 2006.
The move is part of a portfolio management programme at the postal services group.
According to Deutsche Post, Vfw’s activities are not part of group’s core business. The group acquired Vfw at the end of 2005, alongside British logistics group Excel.
Deutsche Post said it had exclusively mandated German investment bank Metzler to carry out the sale of 100 pct in the subsidiary.
Vfw, which is one of the leading service providers in its sector in Germany, is planning to set up an alternative waste-processing service to rival the Green Point system of local rival Duales System Deutschland GmbH, Deutsche Post said.
