Tag: Deutsche Post

KfW says Deutsche Post placement was 110 mln shares at 18.90 eur

Posted by | Jun 14, 2005 | |

Kreditanstalt fuer Wiederaufbau (KfW) said a previously announced placement of Deutsche Post AG stock comprised 110 mln shares at 18.90 eur each.

The value of the placement was 2.079 bln eur, excluding a greenshoe option of up to 15 pct which can be exercised until July 14, the state-owned development bank said in a statement issued overnight.

Dealers had yesterday put the bookbuilding range for the transaction at 18.80-19.20 eur.

The placement increases the free float of Deutsche Post shares to about 53.2 pct from 44 pct.

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German Deutsche Post threatens higher postage prices

Posted by | Jun 13, 2005 | |

Deutsche Post, the German national postal services provider, has said that taking away its VAT privilege on letters will lead to higher postage prices. Alois Rhiel and Walter Hirche, the financial ministers for the federal states of Hessen and Lower Saxony, have announced that they would like to see the sales tax exemption of Deutsche Post cancelled as quickly as possible. Deutsche Post is set to lose its monopoly in 2007.

The postal service provider has responded by saying this would mean higher prices for customers, particularly private customers, who are not eligible to claim sales tax back. Mr Rhiel said that there was no reason why Deutsche Post should be awarded privileges over its tax-paying rivals. He also doubted that Deutsche Post could raise postage prices in the long term as that would send more customers to the new postal companies. The finance ministry in Hessen believes the sales tax exemption gives Deutsche Post an advantage of between 300m euros and 400m euros per year.

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German Bank Sells USD2.41B Shares of Post

Posted by | Jun 13, 2005 | |

A German state-owned bank said Monday it sold over 2 billion euros (USD2.41 billion) in Deutsche Post AG stock, cutting the government stake in Europe’s biggest mail service to under 50 percent.

KfW Bank AG sold 110 million shares for 18.90 euros (USD22.89) each to institutional investors, raising a total of 2.079 billion euros (USD2.518 billion), it said in a statement late Monday.

Shares in Deutsche Post had closed down 1.4 percent at 19.12 euros (USD23.16) in Frankfurt.

KfW said the sale cut its holding in Deutsche Post from 48.8 percent to 38.9 percent, and that the proportion of the shares freely traded will rise from 44 percent to 55.3 percent, ending the government’s majority holding. The government still holds a stake of about 7 percent.

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CVC Capital Partners buys 22 percent stake in Denmark’s postal service

Posted by | Jun 8, 2005 | |

The Danish government said Wednesday it had sold a 22 percent stake in national postal service Post Danmark A/S to investment company CVC Capital Partners for 1.27 billion kroner (EUR171 million; USD210 million).

Germany’s Deutsche Post and Dutch company TPG NV had previously said they were among the bidders.

Another 2.5 percent of the stakes were made available for an employee share program for Post Danmark’s nearly 22,000 employees. An additional 0.5 per cent will be reserved for an incentive program for senior staff of Post Danmark. The Danish state keeps the remaining stake.

“I’m confident that CVC Capital Partners will add extra momentum to Post Danmark’s development as an international operator,” Transport Minister Flemming Hansen said in a statement.

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