Deutsche Post buys into French direct mail firm

21st December 2004, Comments 0 comments

FRANKFURT, Dec 21 (AFP) - Deutsche Post, the semi-privatised German postal authority, said Tuesday it had acquired the majority stake in French direct mail specialist Koba but planned to sell its stake in the German parcel delivery company Transoflex.

FRANKFURT, Dec 21 (AFP) - Deutsche Post, the semi-privatised German postal authority, said Tuesday it had acquired the majority stake in French direct mail specialist Koba but planned to sell its stake in the German parcel delivery company Transoflex.

Deutsche Post did not reveal the financial details of its deal with Koba.

The French firm, set up in 1976, has annual sales of some EUR 50 million (USD 66.5 million) and employs a workforce of around 500.

Its biggest clients include French airline Air France, the bank Credit Agricole, German retail and distribution giant Metro and the German mail order firm Quelle.

Separately, Deutsche Post said it planned to sell its 24.8-percent stake in Transoflex after the Federal Court of Justice upheld a ruling by the competition authorities, the Federal Cartel Office, forbidding the takeover of Transoflex by Deutsche Post.

© AFP

Subject: French News

0 Comments To This Article