Axel Springer AG said it expects to write down the value of postal service provider PIN Group AG, in which it holds a majority stake, by up to 620 mln eur this year after talks with the other owner to finance the business failed.
The write-down will have a negative impact on net profit, it said in a statement.
PIN Group will be included in discontinued operations in the company’s full-year results.
KEBA, based in Linz (Austria) and with branches worldwide, is a leading provider in the fields of industrial automation, handover automation and energy automation. With around 2000 employees, KEBA offers innovative solutions such as control systems, drive systems, ATMs, parcel locker solutions, e-charging stations, and […]
Find out moreWant to get your brand in front of our senior audience of post and parcel executives?
Find out more
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.
