Deutsche Post DHL Group announced that it has reduced its financial holding in 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 will further increase the group’s ability to strengthen the foundation for its Strategy 2020. Deutsche Post DHL Group claimed 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 Sinotrans.
In a company statement Deutsche Post DHL Group said, “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. Deutsche Post DHL Group is fully committed to the long-term cooperation of its very successful and profitable joint venture with Sinotrans Ltd, the leading Chinese transport and logistics firm. DHL Sinotrans International Air Courier Ltd. has been operating in China since 1986 and has successfully shaped the Chinese Express and logistics industry. It remains committed to retaining and further expanding its market-leading position in China.”
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