Altadis SA affiliate Cia de Distribucion Integral Logista SA said it has reached a preliminary agreement to acquire La Poste Group’s Geopost Logistics Holding (GLH) for 12.8 mln eur.
In a statement, Logista said the acquisition is subject to regulatory approval and the ‘execution of the share purchase agreement’.
Read MoreSeur Espana’s recent alliance with GeoPost, the express delivery arm of La Poste, will allow the French company to gain a presence in the Spanish parcel delivery market. For Seur, GeoPost’s support should help it achieve its ambitious sales goals. The joint venture could be a useful model for other foreign players seeking to enter the Spanish market.
Read MoreFrances Groupe La Poste, the parent company of GeoPost, has reported turnover up 5.2percent to EUR2.2bn for 2003 for its express companies. Operating profits increased from EUR58.4m in 2002 to EUR82.4m in 2003 for the division.
Read MoreAssociations representing privately-held transport and logistic operators said they called on the European Commission this morning to stamp out unfair subsidies to their publicly-owned counterparts and to put an end to the misuse of those subsidies. In particular, the associations are concerned about state subsidies to Deutsche Post AG’s unit DHL, Belgium’s SNCB’s ABX Logistics, La Poste’s GeoPost and SNCF’s road haulage unit Sernam. Two associations – Germany’s Wettbewerbsverein and France’s HALTE – said they asked the commission to beef up regulations and implementation and to take a proactive role towards state aid, putting an end to ‘unjustifiable competitive advantages’ enjoyed by the public companies. The commission is already examining two cases in this area.
Read MoreGeopost, the holding company which contains all of the parcel service subsidiaries of the French post office, La Poste, has announced that it is aiming for an operating margin of 4 per cent this year, with an operating profit of just under 100m euros. In 2003, its margin amounted to 3.6 per cent, up from 2.7 per cent in the previous year. Turnover rose 5.2 per cent, to 2.19bn euros.
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