DHL allowed to take over KarstadtQuelle logistics operations06/17/2005, 01:00 AM CEST
Federal Cartel Office approves takeover without conditions
DHL will be able to take over the distribution logistics for the large and part-load operations of KarstadtQuelle AG as planned. The Federal Cartel Office has issued its unconditional approval of the takeover, which the two partners worked out in January and which is scheduled to take effect on July 1. DHL, a fully owned subsidiary of Deutsche Post AG, has already acquired the distribution logistics operations for Karstadt department stores at the goods distribution center in Unna effective April 1.
'We are pleased by the cartel office's positive decision. We can now push ahead with the integration of both logistics operations into our structures. This move substantially strengthens DHL's contract logistics operations,' said Frank Appel, the Board Member in charge of logistics at Deutsche Post World Net.
'This cooperation will yield tangible financial and qualitative benefits for both companies. For our part, we will profit from the experience of a professional and modern logistics partner. At the same time, 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. The proceeds from the sale will go to KarstadtQuelle AG when the logistics operations are transferred.
The department store logistics and large and part-load operations for the two mail-order groups Quelle and Neckermann that DHL Solutions will handle in the future represent a combined sales volume of about 500 million euros. Under the 10-year contract, this amounts to a total volume of 5 billion euros.