Austrian Post Acquires Remaining Shareholding in German trans-o-flex
Effective June 30, 2008, Austrian Post will have acquired the remaining shareholding of 23.85pct in Praetorium Holding GmbH and its affiliated companies (“trans-o-flex“) from its current owners, the private equity funds managed by Odewald & Compagnie and Alpha Group. As a consequence, Austrian Post will own a 100pct stake in the German specialty logistics company trans-o-flex.
A 74.9pct shareholding in trans-o-flex was already purchased as per December 21, 2006. Subsequently, a further 1.25pct stake was acquired from the managing partners. The initial transaction in 2006 included a put-option for the minority interests, which were now purchased at the terms and conditions determined during the initial transaction. The total purchase price for the 100pct interest in trans-o-flex amounts to about EUR 79 million.
The market niches arising as a result of the dynamic change in the European postal market enables trans-o-flex and Austrian Post to position themselves as providers of specialised postal services, in particular specialty logistics. Austrian Post generally considers the specialisation of parcel and logistics services to be a promising, high growth segment. Austrian Post’s acquisition of the remaining shareholding in trans-of-flex reflects its ongoing business strategy to establish a bigger foothold in this field.
Effective June 30, 2008, Austrian Post will have acquired the remaining shareholding of 23.85pct in Praetorium Holding GmbH and its affiliated companies (“trans-o-flex“) from its current owners, the private equity funds managed by Odewald & Compagnie and Alpha Group. As a consequence, Austrian Post will own a 100pct stake in the German specialty logistics company trans-o-flex.
A 74.9pct shareholding in trans-o-flex was already purchased as per December 21, 2006. Subsequently, a further 1.25pct stake was acquired from the managing partners. The initial transaction in 2006 included a put-option for the minority interests, which were now purchased at the terms and conditions determined during the initial transaction. The total purchase price for the 100pct interest in trans-o-flex amounts to about EUR 79 million.
The market niches arising as a result of the dynamic change in the European postal market enables trans-o-flex and Austrian Post to position themselves as providers of specialised postal services, in particular specialty logistics. Austrian Post generally considers the specialisation of parcel and logistics services to be a promising, high growth segment. Austrian Post’s acquisition of the remaining shareholding in trans-of-flex reflects its ongoing business strategy to establish a bigger foothold in this field.
