BRITAIN’S CONSIGNIA BUYS REMAINDER OF DGE

Lloyds List

CONSIGNIA, the former British post office, has acquired the remaining 51% shareholding in Italian parcel group Direzione Gruppo Executive for GBP10m. The first tranche of 49% in DGE was purchased by Consignia a year ago. The move further consolidates Consignia’s European parcels operation. Consignia is a leading participant in the German parcels business through a series of acquisitions. It also has a strong pan-European presence through the General Parcel network, of which DGE is a member. The Italian parcels market is the third largest in Europe. DGE operates nine hubs and 143 depots. Copyright 2002

Reuters

GLS (Parcels) Now Owns 100% of Italian DGE
January 16, 2002 — Reuters: “European parcels transport group General Logistics Systems (GLS) has raised its holding in its Italian partner, Direzione Gruppo Executive (DGE) to 100 percent, subsidiary German Parcel said on Wednesday. GLS, the European parcels unit of British state-owned postal operator Consignia , bought an initial 49 percent stake in the Italian parcels franchise firm in September 2000. The deal gives GLS an 80 percent controlling stake in the General Parcel European parcels transport network. Milan-based DGE, with nine hubs and 143 depots across Italy, increased turnover 17 percent to 280 million euros in 2001, with 70 percent generated by parcels transport, 20 percent from documents transport and the rest from services such as heavy freight or air cargo transport, a German Parcel statement said. ‘Italy is one of the most important express and parcels markets in Europe after Germany and France,’ said GLS chief executive and German Parcel chief Rico Back in a statement. The move underlines ‘our determination to position GLS as one of the three leading parcels companies in Europe,’ he added. Back said GLS did not exclude buying the DGE franchisees to expand its Italian network further. DGE managing director Alfredo Gabriele said the takeover by GLS would strengthen the group financially and help it to grow. GLS is the holding company for 16 parcels firms in 12 European countries acquired by the British post office, Consignia, under its international expansion strategy.” (Source: Reuters)
from Postalinsight website