Deutsche Post, SF Holding Sign $791 Million China Supply-Chain Deal
October 26 2018 - 6:40AM
Dow Jones News
By Nathan Allen
Deutsche Post AG (DPW.XE) said Friday that it has agreed to
transfer its Chinese supply-chain operations to S.F. Holding Co.
Ltd. (002352.SZ) for 5.5 billion Chinese yuan ($791.6 million) as
part of a 10-year partnership to grow the business.
Under the terms of the deal, Deutsche Post said it will receive
a revenue-based partnership fee over the next ten years in addition
to the CNY5.5 billion upfront payment.
The jointly-branded organization will operate under DHL Supply
Chain's Chief Executive Yin Zou and his existing management
team.
The deal won't affect Deutsche Post's activities in
international express, freight transport and e-commerce logistics
solutions in China, the company said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
October 26, 2018 06:25 ET (10:25 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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