Global Forwarding drags DHL Q1 numbers down, but 'we have the remedy'
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Deutsche Post DHL has sold its Chinese contract logistics business to emerging domestic logistics player SF Holding, for an initial €700m.
DP DHL will receive an upfront payment of Rmb5.5bn (€700m) and the two parties have signed a 10-year agreement that will see the German company paid a “revenue-based partnership fee”.
DP DHL Group’s supply chain China business will be incorporated into SF Holding and operate as a co-branded organisation.
It will cover the supply chain business in mainland China, Hong Kong and Macau, ...
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