DHL 2005 Annual Report Download - page 61

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Net Assets and Financial Position
Acquisitions and disposals
Leading the way with Exel
We have taken the decisive step towards becoming the leading logistics group with the
largest acquisition in our history – the purchase of the listed British company Exel plc,
which was completed on December 13, 2005. e Exel group was included in the consoli-
dated nancial statements at December 31, 2005.
In 2005, Exel achieved revenue of €11.5 billion and EBIT amounting to €312 million with
some 110,000 employees in 130 countries. Following this acquisition, more than 50% of our
future consolidated revenue will be generated outside Germany, resulting in our business
portfolio becoming more balanced.
In addition to this acquisition, we have also further strengthened our strategic positions
in the other segments with targeted purchases, or streamlined them by means of disposals.
Largest private mail services provider in the Netherlands
In the MAIL Corporate Division, the following transactions are of particular interest:
• On January 14, 2005, we purchased 94.2% of the shares in the French mail services pro-
vider Koba, with the remaining shares in the group being purchased on November 15,
2005, resulting in Deutsche Post Beteiligungen Holding GmbH now holding 100% of the
shares. We had already announced this acquisition during the previous year; it gives us
access to the French market for value-added services in the mail business.
• Additionally, we acquired a majority interest in the Dutch company MailMerge on Oc-
tober 12, 2005. We increased our existing holding from 20% to 70%. Together with Selekt
Mail Nederland, Interlanden, Selektvracht and DHL Global Mail, which already belong
to the Group, this makes us the largest private mail services provider in the Netherlands.
MailMerge provides its customers with comprehensive solutions for business mail and
is the largest specialist provider of delivery services to the Dutch postal service’s P.O.
boxes.
First express delivery company in Asian domestic markets
e key acquisitions and disposals in the EXPRESS Corporate Division were:
• On March 11, 2005, the acquisition of 81% of the shares in the Indian company Blue Dart
became legally binding. Deutsche Post World Net is now the rst international company
to oer customers its own domestic and international express services in China and
India.
• We had originally planned to acquire a majority interest in trans-o-ex. However, this
was prohibited by the Bundeskartellamt (German Federal Antitrust Authority) and the
Bundesgerichtshof (German Federal Court of Justice). We therefore sold our 24.8% inter-
est to the nancial investor Odewald & Compagnie on March 17, 2005.
Further details of changes in the consolidated
group can be found in item 3 in the “Notes”
section.
Deutsche Post World Net
57
Net Assets and Financial Position
Group Management ReportConsolidated Financial StatementsAdditional Information