Österreichische Post AG completed the acquisition of an additional 55% stake in Aras Kargo A.S. from Aras family.
August 24, 2020
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Österreichische Post AG (WBAG:POST) reached an agreement to acquire an additional 55% stake in Aras Kargo A.S. from Aras family on June 16, 2020. The transaction price will be in mid double-digit million euro range. Prior to the transaction, Österreichische Post AG held 25% stake and after the transaction, Österreichische Post AG will hold 80% stake in Aras Kargo A.S. Baran Aras will continue to be a co-owner, holding a 20% shareholding. Aras Kargo A.S. reported revenues of TRY 1.4 billion in 2019. Baran Aras will also serve on the Board of Aras Kargo. The transaction is subject to regulatory approval of Turkish authorities and is expected to close in the coming weeks. As of August 24, 2020, the transaction is expected to close in third quarter of 2020. Urs Zenhäusern of Baker & McKenzie (Zurich) and Ali Selim Demirel of Baker McKenzie acted as legal advisor to Österreichische.
Österreichische Post AG (WBAG:POST) completed the acquisition of an additional 55% stake in Aras Kargo A.S. from Aras family on August 25, 2020.
Osterreichische Post AG specializes in mail collection, routing, and delivery services. Net sales (including intragroup) break down by activity as follows:
- mail collection and delivery (44.4%; No. 1 in Austria): letters, postcards, ads and publicity materials, newspapers, etc. The group also offers stamps telecommunication and financial products and services (savings accounts, insurance, loans, etc.);
- parcel delivery (44.1%): operating in Austria, Germany, Slovakia and Croatia. Osterreichische Post AG also offers logistical services and express shipping;
- other (0.1%).
The remaining sales (11.4%) are from the retail banking activity.
Net sales are distributed geographically as follows: Austria (81.2%), Turkey (10%), Germany (2.1%) and other (6.7%).
OSTERREICHISCHE POST AG 
