ZUMWINKEL: DEUTSCHE POST TO RAISE STAKE IN DHL
Deutsche Post AG, the German post office, said Friday will raise its stake in DHL International, the international integrator, to 51 percent, from 25 percent, effective Jan. 1.
Klaus Zumwinkel, Deutsche Post chief executive officer, confirmed the company's plans, but did not give a purchase price for the additional 26-percent stake, which is held by private investors.
Japan Airlines Co. said Thursday that it had been approached by Deutsche Post to buy JAL's 6-percent share in DHL.
Deutsche Post and Lufthansa Cargo each own 25 percent of DHL, 23 percent is held by investment trusts and private investors, including the company founds, own the remaining 21 percent.
DHL has annual sales of $5 billion.
Zumwinkel also said Deutsche Post would delay its initial public offering to Nov. 20. The company had initially set the IPO for Nov. 6, when it would list 25 percent to 33 percent of its shares on several stock markets in Europe.