Deutsche Post World Net (DPWN) has expressed interest in acquiring Sinotrans’stake in the Exel-Sinotrans Freight Forwarding joint venture, Xinhua news agency reported.
This follows a Reuters report that Sinotrans is currently revisiting its corporate strategy and plans to shift key assets into its Hong Kong unit. Industry speculation is further fuelled by reports in April that Sinotrans’ CEO indicated an interest in selling the company’s stake in the joint venture. Half of the venture is already owned by DPWN as it owns Exel.
Meanwhile, a report in the Shanghai Securities News quoted Jerry Hsu, president of DHL Greater China and South Korea, as saying that the express delivery and logistics group was in talks with Sinotrans, but no progress had been made. DHL declined to comment on the transaction.