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Performance has been challenged by a difficult market environment
Austrian Post has reached an agreement with a strategic investor on the sale of its German subsidiary trans-o-flex, a logistics company with revenue of about €500.0 million focusing on providing transport solutions for the pharmaceutical, healthcare and consumer electronics sectors in Germany.
In recent years, trans-o-flex was strongly challenged by the difficult market environment in the highly competitive German parcel and logistics market. For this reason, Austrian Post assessed various strategic options within the context of an evaluation process carried out in 2015.
An agreement on the sale of trans-o-flex has now been reached with a German strategic investor who will continue the consolidation of trans-o-flex and its focus on its core business. The acquisition is expected to take place in the coming weeks subject to the approval of the German Competition Authority.