Turkey’s Aras Kargo agreed to transfer a majority of its shares to Austrian Post. As part of the agreement made between the two partners, Austrian Post will raise its stake in the Turkish company to 80 percent.
The Austria-based postal services company applied to the Competition Authority to officially raise its stake in Aras Kargo by purchasing an additional 55 percent stake. According to the announcement, Austrian Post will pay in the “mid double-digit million euro range” for this acquisition. In 2013, Austrian Post became a partner of Aras Kargo after buying 25 percent of its shares.