Print Edition - 2018-10-29  |  Money Digest

Deutsche Post sells off Chinese supply chain

FRANKFURT AM MAIN

Oct 29, 2018-

German logistics giant Deutsche Post DHL said on Friday it was selling off its supply chain business in China, but would continue operating the unit under a “strategic partnership”. The deal will see Chinese firm SF Holding—a national and international logistics firm—pay 5.5 billion yuan ($791 million, 697 million euros) for the operation. Deutsche Post DHL’s supply chain business allows clients to subcontract their logistics operations, running warehouses and shipping or receiving goods to and from the client’s different divisions, suppliers or customers. As well as the up-front payment, SF Holding will pay the German group fees based on revenue for 10 years to run the operation. (AFP)

Published: 29-10-2018 08:34

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