Austrian Post sets the record straight on Aras Kargo options
Austrian Post has today (1 September) issued a statement setting the record straight on its position with regard to the Turkish parcel delivery company, Aras Kargo. The statement said that a monthly business magazine has incorrectly reported in its latest issue that Austrian Post had “invested 250 million euros for the acquisition of a further 50% of the Turkish parcel service Aras Kargo”.
Austrian Post explained that the correct information (as accurately reported by Post&Parcel) is that it had bought a 25% stake in Aras Kargo in 2013 for around €50m and it has a call option to buy a further 50% in 2016, based on the company’s results.
Aras Kargo’s turnover in 2014, added Austrian Post, was €250m.
