Austrian Post, continuing its CEP and logistics expansion, today gained full control of Germanexpress and special logistics operator trans-o-flex with the acquisition of the remaining 23.85%
minority shareholding for a previously agreed sum. The total purchase price for 100% oftrans-o-flex amounted to about €79 million.The Austrian postal group announced that effective June 30, 2008, it will have acquired theremaining shareholding of 23.85% in Praetorium Holding GmbH and its affiliated companies (“trans-o-flex“) from its current owners, the private equity funds managed by Odewald & Compagnieand Alpha Group.
Austrian Post originally bought a 74.9% shareholding in trans-o-flex as per December 21,2006. Subsequently, a further 1.25% stake was acquired from the managing partners. The initialtransaction in 2006 included a put-option for the minority interests, which were now purchased atthe terms and conditions determined during the initial transaction.
Austrian Post said that the full takeover of trans-o-flex was part of its ongoing expansionin the parcels and logistics sectors, especially in niche markets which it sees as a high growthsegment. Trans-o-flex, with 1,122 employees, had turnover of about €500 million in 2007. It is oneof the leading German specialised logistics providers for express delivery in thebusiness-to-business segment, with a focus on the life sciences, consumer electronics/homeentertainment and lifestyle/cosmetics industries. Its range of services offered also includesspecialised services such as the transportation of hazardous goods and temperature-controlledproducts.
Austrian Post, with 25,700 employees and mail and parcel subsidiaries in eight other Europeancountries, had annual revenues of €2.3 billion in 2007.
