DHL Enhances UK Deliveries with Stake in Apollo's Evri
FRANKFURT (Reuters) -German postal services group DHL said on Wednesday it would buy a "significant" minority stake in private equity firm Apollo's British parcel delivery business Evri, under a deal to merge it with its DHL eCommerce UK unit.
DHL, which did not provide financial terms of the deal, said the merged Evri business will deliver more than 1 billion parcels and a further 1 billion business letters annually.
The deal would give Evri access to DHL’s network in Europe, the U.S. and some Asian markets such as India, allowing it to offer faster cross-border transit times, the statement said.
The agreement will also see Evri entering the British business letter market, it added.
(Reporting by Matthias InverardiWriting by Ludwig Burger)
