Tag: Germany

German Trans-o-flex reports profit leap following restructuring

Posted by | Jun 8, 2004 | |

Trans-o-flex, the German specialist in the forwarding of valuable and urgent medical and pharmaceutical consignments, last year saw turnover up by 4.5 per cent at 396m euros. Post-tax profit was trebled to 16.5m euros.

The company, in which German postal service operator Deutsche Post holds a 24.8 per cent stake, has undergone restructuring, this being seen as the main reason for the improvements shown last year. Branches responsible for the delivery of consignments were transformed into independent subsidiaries.

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Deutsche Post sets ambitious shares price range for PostBank

Posted by | Jun 7, 2004 | |

Deutsche Post has set an ambitious subscription price range of Euros 31.50-Euros 36.50 for shares in its retail banking unit Postbank, the biggest German initial public offering for more than three years. The price range, agreed between Deutsche Post and its bankers Deutsche Bank and Morgan Stanley late yesterday, values Germany’s biggest retail bank at between Euros 5.2bn (Dollars 6.4bn) and Euros 5.9bn – well above most fund managers’ estimates.

But Klaus Zumwinkel, Deutsche Post chief executive, said he was confident the mail and logistics group “had found the right price range” for Postbank, which he called a “solid growth-oriented investment”.

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Deutsche Post CEO says Postbank IPO draws ‘good’ response from investors

Posted by | Jun 7, 2004 | |

Postbank AG’s IPO has attracted a ‘good’ response from investors, with foreign funds showing a ‘considerable’ degree of interest during the pre-marketing period, Deutsche Post World Net AG management board chairman Klaus Zumwinkel told reporters.

In a news conference marking the start of the subscription period for the IPO of Deutsche Post’s banking unit Postbank, Zumwinkel said there was also ‘huge interest’ from private investors and Postbank employees for the planned share sale on June 21.

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Deutsche Post sets subscription price for German Postbank shares

Posted by | Jun 6, 2004 | |

Deutsche Post set the subscription price for new shares in its banking unit Postbank, in a flotation marked by tensions with Deutsche Bank, Germany’s biggest bank.

Deutsche Post, the semi-privatised German postal authority, said it put the price at between 31.50 and 36.50 euros for the June 7-18 subscription period for the initial public offering (IPO).

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