DPWN Plans 100% Ownership of Transoflex

DPWN Plans 100% Ownership of Transoflex
July 25, 2001 — Reuters (London): “Deutsche Post World Net said on Wednesday it has agreed to buy a 75.2 percent stake in German parcels company Transoflex from the Bayerische Landesbank for an undisclosed sum. This would give Deutsche Post, which already owns 24.8 percent of Transoflex, 100 percent ownership of the country’s sixth-largest parcels operator, with annual turnover of some 736 million marks ($329.6 million), extending its leadership of the German parcels market.” Reuters reports, “The German cartel office confirmed Deutsche Post had formally sought approval on Tuesday for the full acquisition of Transoflex and said it would now launch a four-month investigation into the deal. ‘We have received an application for the 75.2 percent holding. We will look very closely into this,’ a spokesman said. ‘It will be a question of whether a dominant market position will be strengthened or not,’ he added.” The other major players in the German parcels market, the largest in Europe, are French Post office-owned Deutscher Paket Dienst, U.S. giant United Parcel Service, British post office-owned German Parcel and Hermes Versand Service, the
article reveals.