Deutsche Post Sells Real Estate Portfolio to Lone Star

By: AP
By: AP


BERLIN (AP) - Deutsche Post is selling part of its
real estate portfolio to Dallas-based buyout firm Lone Star Funds
for 1.57 billion dollars.
The German mail and logistics company says the 1,300 properties
in the portfolio are located mostly in Germany. Deutsche Post will
lease back many of them.
Today's cash transaction comes on top of real-estate sales
totaling some 553 million dollars since November. The company says
the deal will have only a "marginal effect" on pretax profit and
would not affect its earnings guidance for this year, or employees.
Deutsche Post delivers mail in Germany and is a major worldwide
player in the express delivery and logistical services business
through its DHL unit.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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