DEUTSCHE POST ACQUIRES MORE SHARES IN DHL FOR $600 MILLION

DEUTSCHE POST ACQUIRES MORE SHARES IN DHL FOR $600 MILLION

   Deutsche Post AG, the expansionist German postal and logistics giant, will acquire another 25-percent stake in the express company DHL.

   The supervisory board of Deutsche Post has approved the purchase of the 25-percent shareholding in DHL from Lufthansa Cargo, for 610 million euro ($598 million).

   The purchase, subject to approval by antitrust agencies, will raise Deutsche Post’s shareholding in DHL from the current 50.64 percent to 75 percent.

   Deutsche Post said that it aims to “increase the stake in DHL to 100 percent in due course.”