Deutsche Post DHL Group has reduced its financial holding in Chinese logistics provider Sinotrans of 5.16% of total issued shares by disposing of 191,400,000 H-shares, representing about
4.16% of the number of total issued shares.
The proceeds of the divestment will be used to strengthen the foundation for its Strategy 2020.
In a statement, the Group said that the initial investment at IPO in 2003 has proven a very good financial investment and has contributed to a strong, mutually beneficial collaboration with
“We remain positive about Sinotrans Ltd and its strategy. This partial divestiture of our financial stake is in no way related to the stake of Deutsche Post DHL Group in the joint venture of its Express business with Sinotrans Air Transportation Development Co., Ltd.," the statement said.
DHL Sinotrans International Air Courier Ltd. has been operating in China since 1986 and has shaped the Chinese Express and logistics industry. It remains committed to retaining and further expanding its market-leading position in China.
Deutsche Post DHL Group operates under two brands: Deutsche Post is Europe’s leading postal service provider. DHL is uniquely positioned in the world’s growth markets, with a comprehensive range of international express, freight transportation, eCommerce, and supply chain management services.
The DP DHL Group employs about 480,000 people in more than 220 countries and territories worldwide. The Group generated revenues of more than €56 billion in 2014.
Nol van Fenema