Deutsche Post DHL has bought out its partner in its freight forwarding activities in India togain full control of the business.
The German group acquired the 24% stake of the Lemuir Group in their joint venture DHL LemuirLogistics for an undisclosed amount. This made the venture into a 100% subsidiary and it is beingrenamed as DHL Logistics Pvt Ltd.
Deutsche Post DHL said the acquisition further consolidated its position as the market leader ininternational freight forwarding and supply chain management in India. The Lemuir Group decided todispose of the minority holding in order to focus on its core business of transportation of specialcargoes, according to Indian media reports.
“DHL and its heritage organisations have shared a long and fruitful association with the LemuirGroup for over 30 years through agency and joint ventures,” DHL Global Forwarding CEO (South Asia)Thomas Tieber said. Oscar de Bok, CEO (South and South East Asia) DHL Supply Chain, added: “Ourpartnership with Lemuir has substantially reinforced our foothold in the Indian domestic logisticsindustry. It has helped to put us on the road of accelerated growth.”
Also in India, DHL Express owns an 81% stake in Blue Dart, the domestic express market leader,with the rest owned by diverse Indian investors.
