[lbo-talk] FedEx paying $400 mln for China express business

uvj at vsnl.com uvj at vsnl.com
Thu Jan 26 03:49:52 PST 2006

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Reuters.com

FedEx paying $400 mln for China express business

Tue Jan 24, 2006

HONG KONG, Jan 24 (Reuters) - Top global air express shipper FedEx (FDX.N: Quote, Profile, Research) said on Tuesday it is paying $400 million to buy out its Chinese partner's express delivery business in a move that boosts its presence in the country, an export powerhouse.

FedEx said in a statement that it will buy Tianjin Datian W. Group Co. Ltd.'s (DTW) 50 percent stake in an existing joint venture with FedEx, and take over DTW's domestic express network.

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