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Deutsche Post takes DHL?
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September 13, 2000: 6:48 p.m. ET
German post operator to take majority stake in DHL; deal in 10 days
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NEW YORK (CNNfn) - German post operator Deutsche Post is in talks to take a majority stake in DHL Worldwide Express, FT.com reported Wednesday.
The transaction could be announced in the next 10 days and values DHL at $18.92 billion. Deutsche Post has agreed to buy 29 percent from Japan Airlines and from two investment funds, which are controlled by West LB. The German group is also close to buying the 21 percent owned by DHL management and the founder's families, FT.com said.
The German postal service and partner Lufthansa Cargo AG already control DHL, each holding a stake of 25 percent.
Hamburg-based Deutsche Post, Europe's biggest postal service, is unlikely to buy shares from Lufthansa Cargo, according to people close to the company.
The German government is planning to float about a quarter of Deutsch Post's equity in November, FT.com said.
San Francisco-based DHL Worldwide Express is one of the world's largest transport firms, competing against FedEx and UPS. DHL's global express network links 636,000 destinations in more than 220 countries. Privately held DHL Worldwide is composed of DHL Airways, which serves locations in the U.S., and DHL International, which serves locations outside the U.S. 
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