Saturday, February 21, 2009

DHL-Sinotrans Discusses deal with express firm

DEUTSCHE Post AG's Chinese division is in talks with a Chinese express firm about a cooperation deal that is expected to be completed this year, a source at the company said yesterday.

"DHL-Sinotrans is negotiating with A Plus Express Co about details but the two sides haven't reached a final agreement," said Li Ying, public relations manager of DHL-Sinotrans International Air Courier. She refused to reveal whether the two companies would seek an equity tie-up but said that the deal is likely to be concluded by the end of this year.

Media reported DHL-Sinotrans plans to invest 300 million yuan (US$44 million) in A Plus to gain a controlling stake.

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