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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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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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
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 ...
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 ...
issuer: 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 ...