Tag: Germany

Deutsche Post takeover of Exel approved by court meeting, shareholders

Posted by | Nov 16, 2005 | |

Exel PLC, the UK logistics group, said a scheme of arrangement that will see it taken over by Deutsche Post AG in an agreed 5.5 bln eur (3.7 bln stg) takeover has been approved at a court meeting and by its shareholders at an extraordinary general meeting. In addition, Exel said the US Federal Trade Commission has granted early termination of the pre-merger waiting period applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

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Deutsche Post unaware of reported US regulatory clearance for Exel deal

Posted by | Nov 15, 2005 | |

Deutsche Post AG said it is unaware of a reported decision by the US antitrust authorities to clear its proposed acquisition of UK logistics group Exel PLC.
The US Federal Trade Commission said in a notice posted on its website yesterday that US antitrust authorities had closed their review of the transaction without taking any action to block the deal, according to a news agency report. A spokesman for Deutsche Post said it expects to hear of the US antitrust decision in due course, but that it has not yet received any formal notification.

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DHL storms ahead with 79% operating profit jump

Posted by | Nov 14, 2005 | |

Deutsche Post’s logistics division DHL has shown strong performance in the first nine months of 2005, with a 15.6% increase in turnover to EUR5.7bn (USD6.6bn) and operating profits of EUR221m, up 79.7% year-on-year. ‘We have consistently and successfully continued our global strategy and after completing the acquisition of Exel we will be the leading logistics provider worldwide,’ chief executive Klaus Zumwinkel said. Of the logistics division’s turnover, DP’s freight business DHL Danzas Air ‘ Ocean contributed some EUR4.1bn, up 14.1%.

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Deutsche Bahn supervisory board approves planned Bax buy

Posted by | Nov 13, 2005 | |

Deutsche Bahn AG’s supervisory board yesterday approved plans to acquire US logistics firm Bax Global in a move designed to strengthen the company’s international freight operations, sources said. Bax, a unit of US security company Brink’s, could cost Deutsche Bahn up to 1 bln eur, the sources said. It has around 12,000 staff and deals mainly in air and sea freight. The move would help Deutsche Bahn strengthen its logistics arm Schenker.

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Austrian Post said planning to buy German Transoflex

Posted by | Nov 11, 2005 | |

Austrian state-owned postal company Oesterreichische Post (Post AG) plans to buy German logistics company Transoflex for up to 500 mln euro (USD584.4 mln), Austrian daily Kurier reported on November 11, 2005. A Post AG spokesperson declined to comment the report saying the company had a growth programme which envisages acquisitions both in eastern and western Europe. The deal could be carried out by the end of 2005, according to Kurier. The 500 mln euro corresponds to Post AG’s total investments planned for expansion in the neighbouring countries by 2008.

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