DHL plans to restructure its joint venture with Lemuir Group in India, paving the way for it to hold the majority stake in the venture, the Economic Times reported. After the restructuring, DHL will hold a 76 percent stake in the new company, DHL Lemuir Logistics Private Ltd, while Lemuir will hold the balance 24 percent stake.
Lemuir’s new promoters have agreed for a cash exit option for their reduced stake. In the previous joint venture, DHL Danzas & Lemuir, DHL and Lemuir had a 49 percent and 51 percent stake respectively, the paper said. It added that although negotiations have been successfully concluded, certain legal formalities have to be completed and an announcement is expected in the coming few weeks. The global logistics major also plans to enter the container freight stationbusiness, the report added.