ANC Group’s six-strong management group has taken a majority shareholding and secured a new long term equity investor.
The result of the funding deal is that: RBS and Halifax BoS have excited the company: the management have added 50% of the company to their earlier shareholding and now own 73.75%; and Lloyds TSB Development Capital owns 26.25%, with a commitment to retain its stake for seven years.
Deutsche Post World Net AG chief financial officer Edgar Ernst said the company’s share price is currently trading at a discount of about 20-40 pct compared with its rivals partly because of its problems in the US. In an interview with Boersen-Zeitung, Ernst also said another reason is the overhang in shares of Deutsche Post. He said once the US operations start making positive contributions to group earnings and when the state-owned Kreditanstalt fuer Wiederaufbau (KfW) sells its remaining Deutsche Post shares as part of the government’s privatisation, then the discount would be reduced. ‘(Our discount) is between 20 pct and 40 pct. And that is clearly too much. Our benchmark for that is UPS, Fedex and TNT,’ he said.
Read MoreAmtrak Express Parcels last month launched a range of international express services that can be booked and tracked via the web.
Shipments can be booked and labels printed in the same way as for domestic collections. The system now captures all the special information required for international deliveries, and automatically generates proforma and commercial invoices.
German postal services provider Hermes has said that it will not alter its prices in response to the announcement last week that former monopolist Deutsche Post is to reduce postage on small parcels. Management at Hermes said that it saw no reason to change its successful strategy in its activities with private customers and declared that Deutsche Post’s decision to lower prices was proof that competition on the market existed. GLS, a subsidiary of UK group Royal Mail, also has no plans to lower its prices.
Read MoreTNT Express today announced that it has launched a new air route between its European air hub in Liège, Belgium, and Brno airport in the Czech Republic. The new route – which operates a 10 tonne capacity Bae146 aircraft every week day from Liège to Brno via Prague on both outbound and return journeys – provides significantly improved access to the east of the Czech Republic and, for the first time, enables guaranteed delivery before 9am and 12am to and from anywhere in Europe. “The additional air route to Brno airport will substantially improve our access to the eastern side of the Czech Republic and reduce our reliance on the D1 highway, which suffers from heavy congestion. TNT Express is the only transport company to operate a daily air service to and from the region, which provides the company with a distinct advantage over competitors,” said Christian Drenthen, Managing Director, Worldwide Networks, TNT Express.
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