CTT - Correios De Portugal, S.A. (ENXTLS:CTT) agreed to acquire 25% stake in DHL Parcel Iberia, S.L., Sociedad Unipersonal from Deutsche Post AG (XTRA:DHL) on December 19, 2024. To solidify the partnership, DHL eCommerce acquires a 25% stake in CTT Expresso Portugal, DHL eCommerce Portugal is fully transferred to CTT Expresso, and CTT Group acquires a 25% stake in DHL eCommerce Spain. Both parties with option to increase their mutual shareholdings in the respective companies in the future up to 49%.
The deal and the outlined partnership are contingent upon the regulatory approvals. The transaction will only be implemented after obtaining clearance under the relevant merger control legal requirements.
CTT-Correios de Portugal, S.A. is the Portuguese leader in postal services provision. Revenues break down by activity as follows:
- express and parcels transportation and delivery services (43.3%): activity ensured in Portugal, Spain and Mozambique;
- mail collection and delivery (42.5%): letters, postcards, ads, advertising documents, newspapers, etc.;
- banking and payment services (11.7%): savings accounts, consumer credit (auto loans and credit cards), mortgage loans, off-balance sheet savings. The group also provides payment solutions (Payshop) allowing paying for purchases through the Internet and via certified agents (kiosks, tobacconists, supermarkets, etc.);
- sale of financial products and services (2.5%): public debt certificates, postal saving products, insurance and postal money orders.
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