By Michael Susin
DHL said it partnered with CTT Expresso to create specialized joint ventures for e-commerce and parcel delivery across Spain and Portugal.
The company on Thursday said CTT Expresso would become the joint processor and distributor of subsidiary DHL eCommerce parcel volumes in Portugal. In Spain, DHL eCommerce will focus on the business-to-business operations while CTT Expresso will cater to business-to-consumer services.
Both parties have the option to increase their mutual shareholdings in the respective companies in the future up to 49%.
The company said the partnership will boost customer convenience and service reliability with the integration of both networks, which combined have a daily capacity exceeding 1 million shipments. It is also planned to deploy 10,000 new parcel lockers over the next years.
The deal is subject to regulatory approval.
No financial details were disclosed.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
12-19-24 0416ET