DHL in talks to acquire Cargus

DHL, which is held by global giant Deutsche Post World Net, is in negotiations to purchase a stake in domestic courier operator Cargus, according to market sources. Cargus is held by two low-profile Romanian businesspeople, Augustin Plesea and Carmina Dumitrescu. The company’s value could reach 50 million euros, according to the same sources, as Cargus ended last year with turnover worth 29.7 million euros and has budgeted a 50% increase for 2008. Cargus officials have not confirmed the negotiations. In September they revealed that if the company closed a strategic partnership within 6 months, they would decide whether to opt for an investment fund, or floatation on the stock exchange. DHL representatives could not be contacted by the time this issue was ready for print. However, previous statements have revealed that Deutsche Post World Net’s strategy for 2008 targets organic growth, whilst the global giant does not rule out the possibility of making acquisitions on markets with a high potential. DHL’s domestic turnover last year revolved around 28 million euros, taking into consideration the growth rate announced by company officials. Around 85% of the overall turnover was derived from international dispatches, a segment on which Dutch company TNT also occupies an important position. Through the acquisition of Cargus, DHL would consolidate its position on the domestic courier market, where the biggest players are Cargus, Fan Courier, Curiero and TCE Logistica.