Deutsche Post Set to Buy Austria's Cargoplan

Deutsche Post AG is close to reaching agreement on the takeover of Austria’s Cargoplan-Gruppe.

A spokesman for the German postal services giant confirmed Wednesday that his group was “in talks on the acquisition of a logistics group”. But he added that a deal had not yet been finalized.

The move sees Deutsche Post continuing to push ahead with its goal to expand its logistics activities. The share of earnings generated by the group’s letter-delivery business is to be reduced to 50% from the current 75%.

According to an advertisement in an Austrian newspaper, the acquisition of Cargoplan, which is active in air and sea freight, storage and logistics, has already been reported to the Austrian cartel authority, the Supreme Regional Court in Vienna.

Cargoplan last year generated sales of ASch1.1 billion (80 million euros) and employs 500 people. The company describes itself as a the Austrian number three in air freight after Schencker and Gebrüder Weiss.

Meanwhile, the tug of war over Deutsche Post’s minority shareholding in courier service Transoflex continues. Antitrust concerns could end up forcing Deutsche Post to sell its 24.8% stake in the company.

The German Cartel Office is taking a critical view of the investment, a spokesman for the authority confirmed. He said the office is examining whether the stake will give Deutsche Post a market-dominant position in the area of express and parcel delivery services. A decision is to be taken by the end of July.

A spokesman for Deutsche Post said that the group had not yet received any indications from the Cartel Office when and how it would decide.

The Cartel Office suspects that though its stake is only a minority, Deutsche Post exerts managerial control over Transoflex. The remaining shares are held by a financial investor, a subsidiary of Bayerische Landesbank. Transoflex generates sales of around DM736 million.

HANDELSBLATT, Mittwoch, 11. Juli 2001