Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.

Joint Ventures/Cooperation/Collaboration

Since July 2013 Austrian Post holds a 25% stake in the Turkish parcel services provider Aras Kargo. Austrian Post exercised its option to acquire an additional 50% shareholding, which was contractually agreed upon at that time, and initiated its call option procedure in the middle of 2016.

However, there continue to be differences with the current majority shareholders with respect to the implementation of the call option agreement as well as the valuation of the shares. In this respect, no agreement could be reached over the last few months. Therefore, as contractually stipulated, arbitration proceedings have been initiated in Geneva in order to safeguard Austrian Post’s legal position. The company’s top priority remains to secure the value of its investment in Aras Kargo.

end of announcement euro adhoc

——————————————————————————–

company: Österreichische Post AG
Haidingergasse 1
A-1030 Wien
phone: +43 (0)57767-0
mail: investor@post.at
WWW: www.post.at
sector: Transport
ISIN: AT0000APOST4
indexes: ATX Prime, ATX
stockmarkets: official market: Wien
language: English

Digital press kit: http://www.ots.at/pressemappe/2209/aom

Rückfragen & Kontakt:

Austrian Post
Ingeborg Gratzer
Head of Press Relations &
Internal Communications
Phone: +43 (0) 57767-32010
ingeborg.gratzer@post.at

Austrian Post
Harald Hagenauer
Head of Investor Relations,
Group Internal Audit & Compliance
Phone: +43 (0) 57767-30400
harald.hagenauer@post.at



Quelle

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER
INHALTLICHER VERANTWORTUNG DES AUSSENDERS. www.ots.at

(C) Copyright APA-OTS Originaltext-Service GmbH und der jeweilige Aussender.