DHL 2000 Annual Report Download - page 95

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The eight consolidated trans-o-flex companies im-
pacted the Group’s net assets, financial position and
results of operations as follows:
Herald International Mailings Limited, London, which
was acquired by Deutsche Post, is one of the three
largest private international mail logistics companies
in the UK.The acquisition strengthens Deutsche Post’s
presence in the UK market and enables the Group
to offer its UK customers a complete range of value-
added services in the international mailing business.
Following the acquisition of DSL Bank, Deutsche
Postbank AG, which has been strong in the market of
retail banking, extends its range of products to build-
ing loans for private and commercial purposes,and
also to the issuance of secured debenture. DSL Bank
merged with Deutsche Postbank AG with effect as of
January 1,2000.A purchase price of €359 million was
paid for the shares that were purchased during fiscal
year 2000.The negative goodwill of €17 million which
arose from the acquisition of DSL Bank was amortized
in full under IAS 22.61 in the first half of 2000.
DSL Bank which was merged into Deutsche Post-
bank AG influenced the Group’s net assets, financial
position and results of operations as follows:
All other international acquisitions are associated
with the Deutsche Post Group’s globalization strate-
gy, and in particular, with the establishing of an effi-
cient pan-European parcel distribution and express
network.
In fiscal year 2000,total acquisition costs amounted to
€1,615 million. The purchase prices for the acquired
companies were paid exclusively through the transfer
of cash and cash equivalents.
Since December 31,1999,35 subsidiaries as well as six
associated companies are no longer included in the
consolidated group. Of these, eight companies were
sold, two were wound up and 23 merged with other
consolidated companies. The type of inclusion was
changed in respect of eight companies.The following
companies were concerned,in particular:
Notes
*Values as at December 31, 2000
in millions
Assets 78
Liabilities and provisions 64
Revenue 93
Profit/loss for the period after taxation 4
trans-o-flex*
*Values as at December 31,1999. As DSL Bank merged into Deutsche Postbank AG on
January 1, 2000, separate values were last available as at that date. In 1999 significant
relationships to Deutsche Post World Net did not exist.
in millions
Assets 85,860
Liabilities and provisions 84,461
Revenue 4,376
Profit/loss for the period after taxation 61
DSL Bank*
87