DHL takes over Cargus in a €50 mln deal

This is the fourth significant acquisition in the field announced in the past six weeks, following Asesoft group’s purchase of a 25 percent stake in Curiero, the UPS takeover of Trans Courier Service, and the GeoPost delivery division of French La Poste group acquisition of 80 percent of Pegasus.

DHL representatives indicated that this deal is part of the company’s strategy to strengthen its local market position. It is competing for leadership here with the subsidiary of another international giant, TNT.

Company officials said they would provide information about the transaction value when the acquisition is finalized, as it is still awaiting approval from the Competition Council and the completion of the audit.

“Cargus had outstanding performances on the Romanian market, including due to a pro-active approach by the business, similar to DHL’s business culture,” according to DHL International Romania’s Managing Director, Gian Sharp.
Cargus President Augustin Plesea told Business Standard that a sale of the company has been “explored” for two years. “We have now signed a sale. The shares still belong to me. When the acquisition proceedings are finalized, DHL will own 100 percent of Cargus,” Plesea added.