Aras Kargo reportedly wants to buy back Austrian Post’s stake

Turkish parcel delivery company Aras Kargo wants to buy back Austrian Post’s 25% holding in the company, according to a report published by Reuters today (4 July). Austrian Post had an option to buy a further 50% from the founding Aras family in addition to the 25% stake it has held since 2013. However, Austrian Post announced on 17 June that “there have been differences in opinion between Austrian Post and the current majority shareholder regarding the execution of the call option agreement as well as the valuation of shares”.

According to Reuters, Aras Kargo’s CEO Evrim Aras has now said Austrian Post is not the right partner to realise its vision of becoming a global brand.

“For this reason, we are ready to buy back the 25% stake Austrian Post holds,” he reportedly said in an emailed statement.

However, Reuters added, Austrian Post has declined Aras’ offer.

The statement from 17 June certainly gave the impression that Austrian Post had no plans to sell: “Based on the solid contractual position, Austrian Post is currently reviewing all options and will take the necessary steps for implementing the contractual agreement.

“For the time being, Austrian Post will continue reporting its 25% stake at equity.”