DHL 2008 Annual Report Download - page 44
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Deutsche Post World Net Annual Report 2008
Earnings, Financial Position and Assets and Liabilities
Signifi cant events
Group sells real estate portfolio to investor
On April , the Group sold a portfolio of around , properties located
mainly in Germany to investor Lone Star for billion in cash. e contract took
economic e ect on July . e majority of the properties will be leased back.
European court awards Deutsche Post a repayment of € 1 billion
On July the European Court of First Instance annulled a decision
by the European Commission that had ordered Deutsche Post to repay million
in purported state aid and interest. erefore, on August the German govern-
ment repaid the sum of , million to Deutsche Post .
Deutsche Post agrees to sell shares in Postbank to Deutsche Bank
On September , Deutsche Post agreed to sell a minority shareholding in
Postbank to Deutsche Bank for a total value of . billion. e transaction of the rst
tranche will be nalised in the rst quarter of . Deutsche Bank and Deutsche Post
adjusted the structure of the sales agreement a er the reporting date.
Deutsche Post participates in Postbank capital increase
Deutsche Post, as the majority shareholder of Deutsche Postbank , has par-
ticipated in full in Postbank’s capital increase. On October , Deutsche Post
stated its commitment to subscribe for the rights issue of . million shares at the
subscription price in line with its stake in Postbank of plus one share. Deutsche
Post has also agreed to subscribe for all shares that are not taken up by the market at
the subscription price. As a result of this measure, Deutsche Post’s stake in Postbank
increased to . for the time being.
Exit from US domestic express market
On November , the Group announced that it would withdraw from the
domestic express business in the at the start of . e international express
o ering in the will be maintained at the current level. Total costs for restructuring
the express business now amount to around billion, of which the majority were
recorded in .
Report on post-balance
sheet date events, page 93
40