Otto Plans to Sell Mondial Relay to InPost
March 15 2021 - 7:19AM
Dow Jones News
By Kim Richters
Otto GmbH & Co KG said Monday that it intends to sell French
subsidiary Mondial Relay to InPost SA for around 565 million euros
($675.4 million).
Amsterdam-listed InPost, which offers logistics services such as
parcel lockers, agreed to take over 100% of the logistics company
Mondial Relay, according to the German retailer, also known as Otto
Group.
The takeover plans also include Mondial Relay operations in
Belgium, Luxembourg, the Netherlands, Portugal and Spain and
Mondial Relay's current management will continue to head the
business, said Otto.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
March 15, 2021 07:04 ET (11:04 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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