Deutsche Post to buy the rest of DHL
In an effort to secure for itself a concrete place in the international parcel business, Deutsche Post is set to purchase the remaining shares of express air courier DHL International of Brussels.
Deutsche Post, which is 70 percent owned by the German government, is Europe’s largest postal company, The company said July 5 it will purchase the 25 percent stake of DHL owned by Lufthansa for about $593 million. It currently owns 50 percent of the company and controls its management.
In addition to the Lufthansa shares, DeutschePost said it has plans to acquire additional shares owned by Japan Air Lines and other institutional investors. DHL is the largest air express carrier outside the U.S.