sinotrans

DHL cuts Sinotrans stake

Deutsche Post DHL Group has disposed of about four fifths of its current 5.16% stake in Chinese state forwarder Sinotrans. The German company said the proceeds would be used to boost its Strategy 2020 plan. It added that the initial investment in Sinotrans proven a very good financial investment. The divestiture does not affect DHL Express' joint venture with Sinotrans Air Transportation Development. [+]