The Austrian and the Swiss Postal Services intend to bundle their international activities in the area of direct advertising mail in a joint venture. For this purpose, the two postal services entered into an agreement on October 15, 2010.
On behalf of Swiss Post and its German subsidiary Swiss Post Solutions GmbH, Heuking Kühn Lüer Wojtek led the contract negotiations for the joint venture, which is still subject to the approval by the responsible competition authorities.
Österreichische Post AG will indirectly hold 65 percent in the new company, Swiss Post 35 percent. With the joint venture, the two postal services want to reposition themselves in the production of direct advertising mail in Central Europe and to use the opportunities for growth in Eastern Europe, thus responding to the structural transformation in the industry.
The execution of the transaction is expected at the end of the year.
Counsel to Swiss Post: Dr. Ulrich Jork, Marcel Greubel, both from the Munich office and Lexpert Dr. Bauer & Partner Rechtsanwälte Dr. Axel Bauer
Additional information is also available on the website of Swiss Post: www.post.ch