Österreichische Post AG

EANS-News: Österreichische Post AG
AUSTRIAN POST TAKES THE NEXT STEP TOWARDS CLARIFYING THE FUTURE JOINT VENTURE STRUCTURE OF ARAS KARGO

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Joint Ventures/Cooperation/Collaboration

Since July 2013 Austrian Post holds a 25% stake in the Turkish parcel services
provider Aras Kargo. Austrian Post exercised its option to acquire an additional
50% shareholding, which was contractually agreed upon at that time, and
initiated its call option procedure in the middle of 2016.
 
However, there continue to be differences with the current majority shareholders
with respect to the implementation of the call option agreement as well as the
valuation of the shares. In this respect, no agreement could be reached over the
last few months. Therefore, as contractually stipulated, arbitration proceedings
have been initiated in Geneva in order to safeguard Austrian Post's legal
position. The company's top priority remains to secure the value of its
investment in Aras Kargo.

Further inquiry note:
Austrian Post
Ingeborg Gratzer
Head of Press Relations &
Internal Communications
Phone: +43 (0) 57767-32010
ingeborg.gratzer@post.at

Austrian Post
Harald Hagenauer
Head of Investor Relations, 
Group Internal Audit & Compliance  
Phone: +43 (0) 57767-30400
harald.hagenauer@post.at

end of announcement                               euro adhoc 
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company:     Österreichische Post AG
             Haidingergasse  1
             A-1030 Wien
phone:       +43 (0)57767-0
mail:     investor@post.at
WWW:      www.post.at
sector:      Transport
ISIN:        AT0000APOST4
indexes:     ATX Prime, ATX
stockmarkets: official market: Wien 
language:   English
 

 


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