ASG MANAGERS LEAVE IN WAKE OF DANZAS ACQUISITION
Several managers have resigned their posts at ASG AB since Deutsche Post
Group subsidiary Danzas won majority control of the Swedish forwarder this month, European
sources say.
Seven representatives of Danzas and Deutsche Post recently were elected to
fill seats on ASG’s board of directors. Two seats were allotted to a wholly-owned
subsidiary of Posten Sverige AB, ending a bitter fight between Sweden’s postal company and
Deutsche Post over ownership of ASG.
The Swedish Post had tried to buy ASG for some time before Deutsche Post
closed a deal with ASG’s key shareholder in May.
Following a tender offer closed in July, Danzas and Deutsche Post own 76.6
percent of the equity and 59.3 percent of the voting power in ASG.
