DHL to buy Czech express parcel company PPL
DHL has agreed to acquire 100 percent of the shares of Czech domestic express parcel company PPL CZ s.r.o. for an undisclosed sum.
The majority of PPL’s customers are from the computer, pharmaceutical and electronic industries. Based in Prague, PPL operates over 450 vans with 11 depots located across the Czech Republic.
“The acquisition follows two strategic objectives: Firstly, to expand business in Central and Eastern Europe and secondly, to combine DHL’s strong international business with a strong domestic business,” DHL parent company Deutsche Post said.
Pending regulatory approval in the Czech Republic, the acquisition is expected to be completed in the first quarter of 2006.