The finance ministry has cleared a proposal by Deutsche Post World Net AG’s DHL Express Singapore Pte Ltd and the Netherland’s Newfield Holdings to buy up to 100 pct equity in India’s Blue Dart Express courier company. A government statement said the two companies would invest 5.66 bln rupees or 130 mln usd in Blue Dart Express. It did not give any details of the split between Newfield and DHL.
Read MoreAs if in a response to DHL Express acquisition of Blue Dart – which gave the German courier & express company a foothold of the domestic express cargo – Federal Express (FedEx) has now approached the government to set up a wholly-owned subsidiary in the country. This signals FedEx entry into the domestic express cargo segment, which has so far been a reserve for home-grown courier companies. As of now, FedEx operates in India as cargo airline which limits its role to airlifting of carrying export and import cargo from international airports. For domestic pick and delivery, it has enter into an arrangement with a clutch of domestic door-to-door express cargo companies. As a spin off, having a subsidiary in the country will also make it easier for the US express major to expand its footprint in the domestic market by acquiring domestic companies.
Read MoreDHL Express Singapore Pte Ltd has appointed Ambit Corporate Finance Pvt Ltd manager to make an open offer to the equity shareholders of Blue Dart Express Ltd to acquire 20 per cent of its equity shares at Rs 350 per share. The acquirer, along with Deutsche Post AG, would be making the open offer for 47,45,587 equity shares of Blue Dart, in an all cash deal aggregating Rs 166.09 crore.
Read MoreDHL today announced an investment in India of Euro 128 million, reinforcing its commitment to the growing Indian economy. The commitment is towards an acquisition of Blue Dart, the premium domestic courier and integrated air express package distribution company. DHL Express has finalised agreements with the founding shareholders of Blue Dart and Schroder Capital Partners Limited, for an acquisition of a majority stake in Blue Dart. The agreement, signed on Saturday, 6th November, gives DHL Express a 68 per cent stake in Blue Dart subject to regulatory approvals. In compliance with statutory requirements in India, the acquisition of 68 per cent of shares in Blue Dart requires DHL to make a 20 percent mandatory open offer to the public shareholders.
Read MoreAmerican Airlines Cargo and DHL Express have agreed to increase cooperation to pursue additional opportunities in the marketplace. The new program will leverage the strengths of both companies to better serve customers in the freight and logistics industry worldwide. Highlights include the introduction of interline agreements that allow American to use DHL Express freighters to reach Eastern Europe, Africa and parts of the world not directly served by American Airlines. American also is joining DHL Express Air Carrier Management Program, further extending the traditional business relationship the companies have had over the past two decades in markets worldwide. “We’re excited about the opportunity to work with DHL Express and other members of the Deutsche Post World Net at a new level,” said Dave Brooks, President of American Airlines Cargo. “Our participation in the Air Carrier Management Program offered by DHL Express will allow us to provide added value to our customers in the shipping community by maximizing the strengths both companies bring to the industry.”
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