Tag: DHL

DHL and Indian Blue Dart Express in the final step of delisting process

Posted by | Jun 19, 2007 | |

Shares of Blue Dart Express surged by nearly 10% on Monday on the BSE on talk that DHL has agreed to an offer price of Rs 950 per share to acquire the remaining stake in the company. The freight and logistics major had acquired a majority stake in Blue Dart in 2004 and has since then been trying hard to acquire the residual stake and delist the company. DHL currently holds a little over 81% in Blue Dart through DHL Express Singapore, while institutional investors collectively hold 10.34%. Individual investors have a stake of less than 5%. The institutional investors include fund houses like SBI Mutual Fund and UTI Mutual Fund.

According to sources, talks had initially fallen through in November last year due to differences over the buyback price. DHL finally gave the go-ahead to a price arrived at by the reverse book building process in November last year. Interestingly, DHL had earlier refused to accept this price of Rs 950 per share. The price is at a premium of nearly 44% over Monday’s closing price of Rs 649 on BSE. In the past one month, the stock has gained nearly 45% or Rs 196.30.

Earlier, DHL was insisting on a price of less than Rs 700 per share that was unacceptable to the shareholders. After many deliberations, the promoters decided to accept the discovered price of Rs 950.

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Technology keeps reshaping Postal Service

Posted by | Jun 15, 2007 | |

The competition starting heating up for the Postal Service in the 1990s, when the Internet and e-mail became a household feature and private package delivery services started becoming more popular, such as UPS, FedEx and DHL.

USPS has kept up with its competition by offering more convenient services like Click-and-Ship, where postage can be paid for and shipping labels printed from your home computer. The package can be picked up at your home with free delivery confirmation letting the sender track the package, says Antonio Ruiz, Sebastian Post Office Officer-in-Charge.

A reduction in business, especially its core product or single-piece first-class mail and a slowing in growth of all first-class mail, Breckenridge says, also made the USPS review its business strategies.

Reasons for dwindling Post Office business includes many new and convenient features that computers offer, such as:

• personal bill pay, i.e. a lot fewer bills traveling through “snail” mail;

• online banking and bank statements, i.e. a lot fewer bank statements and other banking correspondence in the mail;

• other statements being offered through e-mail, i.e. insurance;

• Internet shopping, i.e. merchandise comes directly from a store or manufacturer, eliminating the need to be sent via mail from person-to-person

• and e-mail, i.e. a lot fewer hand-written letters and cards.

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Deutsche Post's DHL to seek 50 pct stake in China's Exel-Sinotrans – report

Posted by | Jun 14, 2007 | |

Deutsche Post AG unit DHL has expressed interest in bidding for a 50 pct stake in Exel-Sinotrans Freight Forwarding Co Ltd, a joint venture between Deutsche Post affiliate Exel LLC and Sinotrans Air Transportation Development Co Ltd, the official Shanghai Securities News reported.

In April, Sinotrans told the Beijing Equity Exchange that it plans to sell its 50 pct stake in the joint venture.

The newspaper quoted Jerry Hsu, president of DHL Greater China and South Korea, as saying that the express delivery and logistics group is in talks with Sinotrans, but no progress has been made.

In 2005, Exel LLC was purchased by Deutsche Post World Net, which is also the sole shareholder of DHL.

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DHL announces acquisition of stake in ASTAR Air Cargo

Posted by | Jun 12, 2007 | |

DHL announced the acquisition of a 49% minority equity interest and a 24.9% voting interest in ASTAR Air Cargo of Miami, Fla. DHL also extended its ACMI contract with the carrier through 2019. The financial terms of DHL’s investment in ASTAR were not disclosed.

DHL has recently made targeted aviation investments in order to build greater resiliency in the air network supporting its U.S. operations. The first of these was the company’s recent investment in Polar Air Cargo, Inc., of Purchase, NY, which will enable DHL to better serve customers demanding express delivery services from the U.S. to Asia. DHL also recently announced orders for six Boeing 767-300ER freighters for use mainly between Europe and the United States. Today’s announcement strengthens DHL’s US aviation network and positions the company well for the future.

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DHL buys stake in Astar Air Cargo

Posted by | Jun 12, 2007 | |

DHL on Tuesday announced it has acquired a minority stake in Miami’s Astar Air Cargo for an undisclosed amount.

DHL acquired a 49 percent equity interest and a 24.9 percent voting interest in Astar — just under federal thresholds that restrict foreign ownership of U.S. airlines. DHL is an arm of Germany’s Deutsche Post.

Jonathan Baker, a DHL spokesman, said the transaction was reviewed by the U.S. Department of Transportation.

The deal comes four years after the airline, then known as DHL Airways, was sold by DHL and a private investor to a group led by former Burger King boss John Dasburg for USD 57 million.

DHL has recently targeted aviation investments to support its operations in the United States. It recently invested in New York’s Polar Air Cargo, which offer delivery services between the United States and Asia.

DHL relies on Astar to handle about a third of its U.S. express domestic air services, Baker said.

The transaction “signals DHL’s confidence in the capabilities of Astar,” said Dasburg, Astar’s chairman, president and CEO.

Federal law prohibits foreign ownership of any U.S. airline to 49 percent and voting interest to 25 percent. The law dates back to 1926.

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