Deutsche Post's DHL to restructure India jv to hold majority stake
Deutsche Post AG’s DHL plans to restructure its joint venture with Lemuir Group in India, paving the way for it to hold the majority stake in the venture, the Economic Times reported.
After the restructuring, DHL will hold a 76 pct stake in the new company, DHL Lemuir Logistics Private Ltd, while Lemuir will hold the balance 24 pct stake.
Lemuir’s new promoters have agreed for a cash exit option for their reduced stake. In the previous joint venture, DHL Danzas & Lemuir, DHL and Lemuir had a 49 pct and 51 pct stake respectively, the paper said.
According to the paper, though negotiations have successfully concluded, certain legal formalities have to be completed and an announcement is expected in the coming few weeks.
The global logistics major also plans to enter the container freight station business, the report added.
