Romania approves DHL acquisition of Cargus
DHL’s acquisition of Romanian parcel delivery company Cargus has been formally approved by the country’s competition authorities, paving the way for DHL to become the clear leader in the fast-growing Romanian express parcels market.
DHL Romania said in a statement that the Romanian Competition Council authorised the acquisition of Cargus by Deutsche Post World Net (DPWN) on September 4, 2008. The acquisition was originally announced in April, pending approval from competition authorities. The price was not disclosed but given as EUR 50 million by Romanian newspapers.
Under the acquisition agreement, DHL Express and Cargus will remain separate companies and will maintain their present brands and service offering. Integration will focus on operational improvements, exchange of best practices and cost optimisation. However, the companies will work towards single interfaces towards customers.
DHL’s acquisition of Romanian parcel delivery company Cargus has been formally approved by the country’s competition authorities, paving the way for DHL to become the clear leader in the fast-growing Romanian express parcels market.
DHL Romania said in a statement that the Romanian Competition Council authorised the acquisition of Cargus by Deutsche Post World Net (DPWN) on September 4, 2008. The acquisition was originally announced in April, pending approval from competition authorities. The price was not disclosed but given as EUR 50 million by Romanian newspapers.
Gian Sharp, Managing Director DHL International Romania, and Augustin Plesea, Cargus chairman, said: “We are delighted that the transaction was authorised and we are confident that the complex process which we started a few months ago will be completed successfully.”
Under the acquisition agreement, DHL Express and Cargus will remain separate companies and will maintain their present brands and service offering. Integration will focus on operational improvements, exchange of best practices and cost optimisation. However, the companies will work towards single interfaces towards customers. Gian Sharp will lead the overall management, while Augustin Plesea will remain part of the Cargus management team.
The acquisition makes DHL/Cargus into the dominant player in Romania ahead of TNT Express, UPS/TCS, GeoPost/Pegasus and locally-owned Fan Courier and TCE, according to CEP-Research information.
