Deutsche Post AG’s logistics unit DHL is to sell its 50pct stake in Duisburg-based freight company G Scharrer GmbH, according to a report in Frankfurter Allgemeine Zeitung, citing a DHL spokesperson. Rhenus Logistics, which owns the other 50 pct of the company, will buy DHL’s stake, it said.
Read MoreDeutsche Post AG unit DHL said it plans to open a new terminal at Moscow’s Sheremetyevo airport. The customs clearance terminal is part of a 20 mln eur investment program by DHL, commercial director Roland Thomas said in a statement.
Read MoreThe government will accept the ruling Liberal Democratic Party’s demand in a meeting Thursday that post offices are legally required to be evenly situated nationwide even after privatisation, government sources said Wednesday.
The government’s first concession over its policy to privatise Japan’s postal system is apparently intended to move forward with the submissions of bills to legislate the policy during the ongoing Diet session through June.
The concession was agreed upon when the ministers in charge — Heizo Takenaka and Taro Aso — visited Prime Minister Junichiro Koizumi at his office Wednesday afternoon, the sources said.
The move came after the LDP warned Tuesday that it may freeze the ongoing negotiations with the government on the policy unless its key request is accepted.
Read MoreUK Mail are just about to open their first, of a planned 5, mail sorting centres in Swindon. This apparently represents a £2 million investment, the other 4 sorting centres will be in London, Leicester, Leeds and Glasgow. I believe they have chosen Pitney Bowes mail sortation equipment. This means that they will shortly start to collect unsorted (domestic) mail for sortation and distribution to 120 Inward Mail centres.
Read MoreDutch TPG NV is not aware yet of the result of the race for a 25 pct stake in Danish post company Post Danmark, a TPG spokesperson said on March 16, 2005.
The spokesperson made the statement in reaction to earlier announcements in the Danish media, according to which the Danish Government planned to sell a 25 pct stake in Post Danmark to the multinational capital fund CVC Capital Partners.
TPG chief executive officer (CEO), Peter Bakker, said at the end of February 2005 he expected to have clarity within a month about the non-binding preliminary bid for a 25 pct stake in Post Danmark, made by TPG in September 2004. According to the TPG spokesperson, the company will shortly make an announcement on the result of the race for the stake in Post Danmark.
Transport minister Flemming Hansen is close to selling 25 pct of the state’s shares in the postal service, Post Danmark, to UK-based CVC Capital Partners, daily Berlingske Tidende reported without citing any sources. It also said CVC Capital Partners is expected to pay between 1.0-1.5 bln dkr for the stake in Post Danmark. None of the parties wished to comment on the report but the daily said the agreement is already in place and has now been sent to the government’s coordinating committee. The remainder of the sales process is considered a formality, it added. Deutsche Post AG and TPG NV had also submitted offers for the 25 pct stake, but according to Berlingske Tidende, their bids were lower than that of CVC.
Read MoreOdewald & Cie will purchase Deutsche Post World Net AG and Bayerische Landesbank’s stakes in Transoflex for roughly 200 mln eur, the Financial Times Deutschland reported citing industry sources. Deutsche Post holds 24.8 pct of the freight company and Bayerische Landesbank owns 75.2 pct. Deutsche Post wants to sell its holding because cartel authorities blocked it from acquiring all of Transoflex. All three parties declined to comment on the matter FTD said.
Read MoreSeveral delivery drivers filed a class-action lawsuit against FedEx Corp. Monday, alleging the company violates South Dakota law by treating drivers as independent contractors instead of employees.
The suit in South Dakota state court claims FedEx failed to reimburse the drivers for job-related expenses, and avoided paying workers’ compensation and unemployment insurance, said attorney Matthew Tobin, of the Sioux Falls firm Johnson, Heidepriem, Miner, Marlow and Janklow LLP.
“This lawsuit is about fundamental fairness, and the right of every employee in South Dakota to be reimbursed for their employment expenses, and to be treated in a manner consistent with the requirements of South Dakota law,” Tobin said in a statement.
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