A change in rules by the Securities and Exchange Board of India have required DHL to reduce its ownership share in Blue Dart Express, one of the South Asia’s leading courier companies delivering parcels to India.
|Image c/o topnews.in|
DHL currently owns a 81.03 percent stake in Blue Dart which it will decrease since the Indian state is now required to own at least 25 percent in every public company.
Yasmin Aladad Khan, DHL Express Senior Vice-President for Southeast Asia, said that she remained confident about future business contracts between the two companies.
“There is strong trust between the Deutsche Post DHl and Blue Dart Express management teams and the relationship between the two companies will not be affected by the proposed reduction in Deutsche Post DHL’s stake in Blue Dart Express Ltd as the primary aim for such reduction is to ensure Blue Dart Express Ltd to comply with Indian regulations.”
Blue currently delivers parcels to 36,637 locations in India.
Sources: Post & Parcel / Blue Dart Express