DHL receives approval for German mail-order load operations

DHL receives approval for German mail-order load operations    Germany's Federal Cartel Office has issued its unconditional approval of DHL's takeover of the distribution logistics for the large and part-load operations of KarstadtQuelle AG, planned in January and scheduled to take effect July 1.
   DHL's previously acquired logistics operation of the Karstadt department stores, combined with the large and part-load operations for two mail-order groups, Quelle and Neckermann — to be handled now by DHL Solutions — represent a combined sales volume of 500 million euros ($605 million). Under the 10-year contract approved by the Cartel Office, this amounts to a total volume of 5 billion euros ($6.05 billion).
   'We are happy about the successful conclusion of another chapter in our divestment program,' said Harald Pinger, finance director and head of the mail-order division at KarstadtQuelle. Proceeds from the sale will go to KarstadtQuelle AG when the logistics operations are transferred.
   DHL is a fully owned subsidiary of Deutsche Post AG.