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.
Inpost (EU:INPST)
Gráfica de Acción Histórica
De May 2024 a Jun 2024 Haga Click aquí para más Gráficas Inpost.
Inpost (EU:INPST)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024 Haga Click aquí para más Gráficas Inpost.