DHL wants 100% of India’s Blue Dart Express
DHL is attempting to gain full ownership of Indian express company Blue Dart Express Ltd. by purchasing the company's outstanding shares. DHL Express (Singapore) Pte Ltd, currently owns 81.03 percent of Blue Dart.
DHL plans to delist Blue Dart if its 550 rupees ($11.83) per share offer is accepted by the other shareholders.
“Obtaining full ownership of Blue Dart will enhance our operating flexibility to meet the business needs of our customers, and streamline our service offering in the region. Given the low liquidity in the stock, we believe that this offer provides an attractive exit opportunity to the public shareholders of Blue Dart,” said Greg Tanner, a director of both DHL Express (Singapore) and Blue Dart.
DHL paid $163 million for the majority stake in Blue Dart in 2004.