Deutsche Post DHL Group reduces holding in Sinotrans
Deutsche Post DHL Group has reduced its holding in the Chinese logistics company, Sinotrans Ltd. In a statement issued yesterday (19 May), the company said that it has “reduced its financial holding in Sinotrans Ltd. of 5.16% of total issued shares (equivalent to 11.07% of issued H-shares) by disposing 191,400,000 H-shares representing about 4.16% of the number of total issued shares (equivalent to 8.92% of number of issued H-shares)”.
Deutsche Post DHL Group reported that the initial investment at IPO in 2003 “has proven a very good financial investment and has contributed to a strong, mutually beneficial collaboration with Sinotrans”.
The group emphasized that it “remained positive about Sinotrans Ltd and its strategy” and that the partial divestiture of its financial stake “is in no way related to the stake of Deutsche Post DHL Group in the joint venture of its Express business with Sinotrans Air Transportation Development Co. Ltd”.
Deutsche Post DHL Group said that it remained “fully committed to the long-term cooperation of its very successful and profitable joint venture with Sinotrans Ltd”. The joint venture, DHL Sinotrans International Air Courier Ltd., has been operating in China since 1986 and is one of the leading players in the Chinese Express and logistics industry.
