DHL Expr tocopherol ess's China JV nears partnership with...
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DHL Express's China JV nears partnership with APEXPublished: 16 Feb 2009 01:48:42 PST
SHANGHAI, Feb 16 - Deutsche Post AG's courier serviceventure in China is nearing a partnership agreement with a domesticexpress delivery firm, APEX, a spokeswoman with the ventur5368709141696625505
"DHL-Sinotrans is in detailed talks with APEX to form apartnership and the two parties are not far from a final deal,"the spokeswoman with DHL-Sinotrans International Air Courier toldReuters.
She declined to specify the nature of the partnership, butdid not rule out an equity tie.
The Economic Observer, a Chinese financial newspaper, reported on Monday that DHL-Sinotrans planned to take control of APEX for 300 million yuan ($43.87 million), citing an unidentified1936684402
However, an executive with APEX said the two sides were onlyexploring business cooperation.
DHL Express competes with United Parcel Service <UPS.N>,FedEx Corp <FDX.N> and others for China's express deliverymarket.
APEX is one of China's biggest private express delivery firms, offering services in the country as well as to Hong Kong, Taiwan,South Korea and other parts of the world, it said on its website. ($1=6.839 Yuan)
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